IRS announces delivery of stimulus checks to 50-70 million Americans this week
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The Coronavirus Aid, Relief, and Economic Security (CARES) Act got approval from Congress several weeks ago. The CARES Act included stimulus checks for more than 100 million Americans. The Internal Revenue Service (IRS) announced that it would start the distribution of the checks this week. According to the IRS, more than 50 to 70 million people will get their checks this week.
Bob Probasco, a tax lawyer, working with the IRS, said, “That will primarily be people who claimed a refund and asked it to be deposited to their bank accounts in 2018 and 2019 or Social Security Beneficiaries.” Probasco is serving as the director of the tax clinic at Texas A&M University. He said that the payment by checks would take long.
The IRS shares the details related to the arrival of stimulus checks for different groups of people last week. The IRS will start the distribution of the checks from the people who have direct deposit information on file with the IRS. These people will get checks quickly. These people should expect the delivery of checks before April 15.
According to the IRS, the Social Security Beneficiaries who have direct deposit information on their files with the IRS should also expect the delivery of the checks at the same time. The IRS said that it would start distributing paper checks around April 24. The IRS can distribute only 5 million paper checks per week. The paper check receivers will have to wait for some time to receive their checks.
The IRS launched a website to help Americans to stay away from these delays. The individuals who could not file their tax returns in 2018 or 2019 due to several reasons, including they had no income, or less income, can take benefits from the website. The IRS launched another website last week for the residents who want to update the direct deposit information on their file with the IRS. You need to stay away from scammers as they have eyes on these checks.