$ 600 stimulus checks are formally on the best way. Here is who will get it first
According to two tweets from Treasury Secretary Steven Mnuchin on Tuesday evening, the $ 600 stimulus checks on the latest Covid aid bill are officially on their way to bank accounts.
According to Mnuchin, the checks could be in as early as tonight for those with a direct deposit.
Your stimulus check is done this way when you set up a direct deposit with the IRS for your 2019 tax return by adding your bank account details to it. According to the IRS, if this information has changed, receiving your stimulus review will be delayed.
Direct deposits will begin Tuesday evening and continue through next week, Mnuchin said.
If you haven’t set up a direct deposit with the IRS, it will likely take longer for a stimulus check to arrive as it will be sent to you. Paper checks will be sent to eligible recipients starting Wednesday, Mnuchin said.
In addition, Mnuchin said eligible Americans will be able to track the status of their payment through the IRS later in the week.
The latest Covid relief bill includes direct checks of $ 600 for eligible adults and $ 600 per dependent child, which means a family of four could receive $ 2,400. Individuals who earned less than $ 75,000 and those who collectively earned less than $ 150,000 in 2019 are eligible for the full amount.
Those who did more are entitled to reduced stimulus checks. However, checks expire completely for individuals who made $ 87,000 and couples who made $ 174,000 in 2019.