Americans who do not have direct deposit information on file with the IRS may have to wait months before they see relief payments from the government under the CARES Act signed into law last week, NBC News reports.
According to a memo sent by the Trump Administration to House Democrats on the House Ways and Means Committee, Americans who've received their 2018 or 2019 tax refunds via direct deposits will likely begin seeing their money arrive in mid-April - most likely the week of April 13.
About 60 million Americans are estimated to get their checks by then.
However, for those who do not have their bank information on file with the IRS, stimulus checks won't go out for another three weeks - likely the week of May 4, the memo states. About 100 million people will receive a paper check and because the office that sends out the checks can only process about 5 million checks every week - it could take up to five months for some Americans to receive their payments.
Checks will be processed in order of income, starting with the lowest-income Americans first.
Individuals making up to $75,000 will receive a check for $1,200, while couples who make up $150,000 will receive $2,400. Another $500 will be sent to individuals and couples who have children under 17. You can calculate how much money you'll see in the relief payment using an online calculator.
Treasury Secretary Steven Mnuchin also said Wednesday that people on Social Security who do not normally file tax returns, will not have to do anything to receive their payments. The stimulus check will be delivered in the same manner seniors receive their Social Security checks.
To keep up to date on the latest news about the coronavirus and to understand what you need to stay safe and healthy, check out the Coronavirus: Fact vs Fiction podcast from CNN Chief Medical Correspondent Dr. Sanjay Gupta.
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