More than 80 million Americans were slated to receive their COVID-19 coronavirus stimulus payments via direct deposit this week, but with a total of 171 million Americans set to be paid, many are still waiting to see that money arrive in their bank accounts or mailboxes. According to the latest Congressional timeline, here’s who can expect their money and when.
This week, more than 80 million Americans are expected to receive payments via direct deposit into their bank accounts, according to the Treasury Department. That direct deposit information will come from either their 2018 or 2019 tax returns. People who receive Social Security or Supplemental Security Income (SSI) benefits who filed returns that included their direct deposit information should receive their payments at this time.
From there, the government will send out more money, first via direct deposits and then by mailed paper checks. Individuals who have direct deposit information on file will get priority. Mailed paper checks will start going out April 20 for Americans who do not have their direct deposit information on file.
About 5 million checks are expected to be mailed per week. It could take up to 20 weeks — five months — for all of the checks to be sent.
MacDailyNews Note: To give the IRS your direct deposit information if it was not already included on your tax returns for the past two years, go to: https://www.irs.gov/coronavirus/get-my-payment
If you typically don’t file taxes, use this tool to provide your direct deposit info here: https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here