• Thu. Jun 1st, 2023

Stimulus checks may begin to be deposited as early as Tuesday night

President Donald Trump’s name is seen on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak, in San Antonio, Thursday, April 23, 2020. According to the Treasury Department, it marks the first time a president’s name has appeared on any IRS payments, whether refund checks or other stimulus checks that have been mailed during past economic crises. (AP Photo/Eric Gay)

By: Justin Boggs

Treasury Secretary Steven Mnuchin said on Tuesday that some Americans will begin receiving $600 stimulus checks from the federal government as soon as tonight.

This comes two days after President Donald Trump signed into law a $900 billion stimulus package, which included the direct payments.

Mnuchin said that the stimulus checks will arrive in some bank accounts via direct deposit “as early as tonight and will continue into next week.” The department will also begin sending out paper checks on Wednesday.

Mnuchin said that later this week, Americans can check the status of their refund payments by going to this website.

The stimulus bill provides most Americans making less than $75,000 a year a direct payment of $600 (couples making less than $150,000 a year will get $1,200). Heads of households making $124,500 annually also will receive the full $600.

The amount given per child under the age of 17 will increase from $500 to $600. Some young adults who are considered dependents will not be eligible for a payment.

Those making $75,000 to $87,000 ($150,000 to $174,000 for couples) will get a prorated check. Those making over $87,000 ($164,000 for couples) will not receive a check.

While most Americans who received a stimulus check in the spring will receive one, changes to income between 2018 and 2019 could alter payments.

Although the $600 checks will be welcomed relief for many Americans, the amount might come as a disappointment for some. On Monday, the House voted to increase the payments by $1,400 to $2,000. Senate Majority Leader Mitch McConnell, however, said that he will not put that bill up for an immediate vote. McConnell is hoping to leverage a repeal to Section 230 into the legislation. Section 230 was a 1996 federal code that gives websites legal protection for materials posted by users.

Reposted with permission from WCPO 9 Cincinnati.

Original Link: https://www.wcpo.com/news/national/feds-stimulus-checks-to-hit-bank-accounts-as-soon-as-tonight