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COVID-19: Some Could Now Start Getting Stimulus Checks By Direct Deposit

Millions of Americans could see the first wave of directly deposited stimulus checks today.
Millions of Americans could see the first wave of directly deposited stimulus checks today. Photo Credit: Pixabay

Relief is coming for millions of Americans coping with the novel coronavirus (COVID-19) pandemic as the federal government begins making payments.

The House Ways and Means Committee said the IRS will make approximately 60 million payments to Americans through direct deposit in mid-April, with some expected as soon as Thursday, April 9.

Those without direct deposit information on file at the IRS may not receive their checks until the summer or fall.

U.S. residents will receive the Economic Impact Payment of $1,200 for individual or head of household filers, and $2,400 for married filing jointly if they are not a dependent of another taxpayer and have a work-eligible Social Security number with adjusted gross income up to $75,000 for individuals and $150,000 for married couples filing joint returns.

The money will all come from the $2.2 trillion coronavirus stimulus package, which aims to help individuals and small businesses with the struggles caused by the pandemic.

Those with a gross income greater than $99,000 individually or $198,000 for a married couple that filed jointly and those who can claim to be a dependent on someone else’s tax return are ineligible to qualify for an Economic Impact Payment.

Those curious about how much they should receive can use the stimulus check calculator.

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