Coronavirus stimulus payments flow into Americans’ bank accounts

Updated: April 15, 2020 2 pm

Eligible Americans with direct deposit accounts set up have begun to receive their coronavirus relief payment.

Over 80 million Americans will see the coronavirus stimulus checks deposited into their bank accounts today. 

The first round of checks, which are part of the federal government’s response to unprecedented unemployment levels and financial strain caused by the coronavirus pandemic, were automatically deposited into the bank accounts of those who filed a 2018 or 2019 tax return and received a refund via direct deposit. 

Social Security retirement and disability beneficiaries will also automatically receive their payments.

Those who do not typically file tax returns and have not provided the IRS with their bank account information, as well anyone receiving paper checks will have to wait a bit longer, according to the U.S. Treasury.

No checks have been mailed yet, and it is expected to take a few months for all of them to be sent out.

You can track your payment with the new IRS Get My Payment tool. You will need to input your Social Security number and the mailing address on your last tax return to check the status of your check.

IRS deposited the first Economic Impact Payments into taxpayers’ bank accounts.

The payments, also referred to by some as stimulus payments, are automatic for most taxpayers. No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees.

According to the IRS, “We know many people are anxious to get their payments; we’ll continue issuing them as fast as we can.”

For security reasons, the IRS plans to mail a letter about the economic impact payment to the taxpayer’s last known address within 15 days after the payment is paid. The letter will provide information on how the payment was made and how to report any failure to receive the payment. If a taxpayer is unsure they’re receiving a legitimate letter, the IRS urges taxpayers to visit IRS.gov first to protect against scam artists.

For #COVIDreliefIRS updates see: irs.gov/coronavirus

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