Wondering about your third stimulus? There's a tool on the IRS website to help

UNITED STATES — The third round of stimulus checks are being mailed and deposited to Americans across the nation.

President Joe Biden signed the $1.9 trillion COVID-19 relief package into law last week. It’s a measure meant to infuse billions into the U.S. economy, including your bank account.

The stimulus bill, being called ‘The American Rescue Plan’, will put $1,400 direct payments to people making less than $75,000 per year. It will also give $2,500 to married couples who make less than $150,000 per year.

White House Press Secretary, Jen Psaki, says the money is meant to help financially struggling Americans.

“It’s really up to family to family, he [President Biden] wants them to have discretion with how they use these funds, but he pushed for this additional $1,400 check because he knows people need a bridge to get to the other side of this economic downturn,” said Psaki.

Individuals making up to $80,000 as well as joint filers making up to $160,000 will get some money, but not the full amount. The direct cash includes up to $1,400 per dependent, including adult dependents.

President Biden says a lot will happen in the next 100 days.

“Shots in arms and money in pockets, that’s important. The American Rescue Plan is already doing what it was designed to do,” said President Biden.

In addition to direct payments and child tax credits, the bill will provide $14 billion to distribute vaccines and $49 billion for COVID-19 testing, contact tracing and personal protective equipment.

The IRS says on its website that the first batch of payments will be sent by direct deposit. Additional payments will be sent in the coming weeks through the mail as a check or debit card.

“Help is on the way. This week I can report that help is here, sooner than many thought possible,” President Biden said.

For many people who’d like to know when they’ll receive their stimulus, the IRS has launched its check tracker tool called ‘Get My Payment.’

The tool will notify you of your payment date and payment method. If your payment status is not available, the IRS says it means your payment has not yet been processed or you’re not eligible.

“We’re going to have to stay on top of every dollar spent through the American Rescue Plan, and that’s what we’re going to do. We can do this, we will do this,” President Biden said.

The IRS says that if you get a message saying you “Need More Information”, your payment was returned to the IRS because the post office was unable to deliver it.

The stimulus package also includes $125 billion for K-12 schools, and nearly $40 billion for higher education.

It will provide $39 billion in child care grants, $25 billion in rental assistance and $30 billion for public transit, as well.