The IRS has postponed the tax filing deadline for many Americans from April 15 to May 17, but those who have not yet received their third stimulus check should file early.

The reason? Because the sooner you file, the sooner your direct payments (and refunds, if you receive them) will be processed. As noted in the Washington Post, filing a tax return allows the IRS to know if you owe taxes, how much you owe, and where to deposit the money.

Tax returns are also the only way to claim any unpaid stimulus checks or make-up money you may have been less eligible to receive under previous bailouts.

Since it takes an average of 21 days for the IRS to issue refunds and benefits, procrastinating on a tax return can delay it by at least several weeks and in some cases more than a month. According to industry data, in 2020, Americans are receiving billions of dollars in refunds that are delayed longer than necessary because of late filing.

The IRS has extended the filing and payment deadlines for most individual taxpayers filing their 2020 tax returns.

However, this change does not apply to estimated self-employment tax payments owed by gig workers and small business owners; the first quarterly payment for 2021 is still due on April 15.

On the flip side, some Americans will have even later filing deadlines. Those in Louisiana, Oklahoma, and Texas (states hit hard by the winter storms earlier this year) will have until June 15 to file their individual and business returns and payments.

Finally, it should be noted that not all states have the same filing and payment deadlines as the federal government. Please check each state's current regulations to ensure that you do not miss any important deadlines.

If you are still waiting for Stimulus Check 3, you can enter your information into the IRS Get My Payment tool. You will need your Social Security number or Individual Taxpayer Identification Number (ITIN), date of birth, address, and zip code. The tracker will tell you when the payment will be made.

If you are not sure how much you will receive, use the Stimulus Check Calculator tool to determine eligibility.