First wave of stimulus checks deposited while others wait; IRS to launch payment tracking tool

The first wave of stimulus relief checks were deposited into some Americans’ bank accounts over the weekend, according to the IRS.

The one-time payments were approved by Congress as part of an emergency relief package intended to combat the economic ravages of the coronavirus pandemic.

The checks are worth $1,200 for individuals with adjusted gross income below $75,000 and $2,400 for couples earning below $150,000.

Those who filed 2018 or 2019 returns and authorized direct deposit from the IRS will be paid first. It will take much longer for others, including those who do not typically file returns or opt to receive paper checks.

To help taxpayers check the status of their payment, the IRS is rolling out a tracking tool called “Get My Payment” by April 17. The tool will also let users update their direct deposit information with the IRS.

Paper checks will begin to be distributed later this month, according to the Treasury.

Categories: Featured, Local News, Mississippi State News

Leave a Reply

Your email address will not be published. Required fields are marked *