The IRS has already begun sending out the first round of the $1,400 stimulus checks. For those who have set-up direct deposit with the IRS, they will receive their money first.

The stimulus hitting bank accounts is the third stimulus payments meant as COVID-19 relief payments. In the coming weeks $1,400 payments will be sent out via direct deposit, check, and debit card.

So who will be getting a stimulus check? As long as you make less than $80,000 for an individual or less than $160,000 for married couples, according to USA Today, you will be getting a check.

The payments would amount to $1,400 for a single person or $2,800 for a married couple filing jointly, plus an additional $1,400 for each dependent child. Individuals earning up to $75,000 would get the full payments, as would married couples with incomes up to $150,000. Payments would decline for incomes above those thresholds, phasing out above $80,000 for individuals and $160,000 for married couples.

The third stimulus payment isn’t restricted to children under 17 like the first two rounds. Eligible families will get a $1,400 payment per qualifying dependent claimed on their tax return, including college students, adults with disabilities, parents and grandparents.

Now you should probably know whether you are going to be getting a stimulus check or not. Here's what we want to know, how do you plan on spending it? According to CNBC, 52% of those who were polled nationally said they would pay off debt. 28% said they would spend the money and 19% said they mostly saved it.

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Another CNBC poll showed that Americans have spent their stimulus checks on food, utilities, household supplies, paying down debt, rent, car payments, mortgages, and savings/investments.

Let us know in the poll below how you plan on spending your stimulus dollars.

Will there be another stimulus check in the future? It's possible, but Yahoo News reported on why you shouldn't count on it.

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