CORONAVIRUS: Americans Started Receiving Stimulus Payment

Posted on 04/15/2020


Across the United States, citizens started receiving a stimulus payment linked from the bill signed by U.S. President Trump. The Internal Revenue Service (IRS) on behalf of the U.S. Treasury started sending out stimulus payments. The first payments are being sent to people who have already filed their their 2018 or 2019 tax returns and authorized the Internal Revenue Service to make a direct deposit if they were due a refund. Within that cohort, the IRS is focusing on sending money to people with the lowest incomes. In addition, Social Security recipients will automatically receive their payments, even if they haven’t filed a return. Taxpayers without direct deposit will have to wait for checks to be sent out. Taxpayers can update their bank information using Treasury’s new web portal, which went live on April 15, 2020.

This event is tied to the Wuhan coronavirus (COVID-19) pandemic which has put the U.S. and other countries on lockdown.

On another note the new Paycheck Protection Program is expected to exhaust the initial US$ 350 billion allocation.

Get News, People, and Transactions, Delivered to Your Inbox