The first stimulus payments were sent out to banks on Saturday April 11, 2020. There is no indication as to who was part of this first round (I haven't heard from any of my clients that they have got them). Anyone that has filed a 2018 or 2019 tax return and had direct deposit will automatically get their stimulus money based on the most recent tax return. If you are on social security and not required to file a tax return then you will get your money direct deposited to the same account your monthly benefits go to. If you are not required to file and have children under 17 you can provide your information on the IRS website (https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here). The IRS is still working on a way to check your refund status and to provide direct deposit information. They anticipate those to be available later this week.
Please note: This is not a loan on next year's tax refund! This is not taxable! As with previous years, they will add a line to the 2020 tax return. If you didn't get the money in 2019 you can still get it in 2020. There will be a calculations for everyone that files in 2020 and you will show how much you already received. If you didn't get everything you were entitled to (for example if you didn't claim a child in 2019 but you can in 2020) then you will receive the additional amount. If you received too much money you will not have to repay that amount. There will be no report of this income on the 2020 tax return and you will not have to pay tax on it.
Please note: This is not a loan on next year's tax refund! This is not taxable! As with previous years, they will add a line to the 2020 tax return. If you didn't get the money in 2019 you can still get it in 2020. There will be a calculations for everyone that files in 2020 and you will show how much you already received. If you didn't get everything you were entitled to (for example if you didn't claim a child in 2019 but you can in 2020) then you will receive the additional amount. If you received too much money you will not have to repay that amount. There will be no report of this income on the 2020 tax return and you will not have to pay tax on it.