CORONAVIRUS

IRS Deposits First Wave Of Stimulus Checks

Apr 11, 2020, 10:41 PM
FILE: A man walks into the Internal Revenue Service building in Washington, DC on March 10, 2016. (...
FILE: A man walks into the Internal Revenue Service building in Washington, DC on March 10, 2016. (Andrew Caballero-Reynolds/AFP/Getty Images)
(Andrew Caballero-Reynolds/AFP/Getty Images)

(CNN) — The Internal Revenue Service sent out the first wave of stimulus checks to Americans on Saturday, the agency said.

“#IRS deposited the first Economic Impact Payments into taxpayers’ bank accounts today. We know many people are anxious to get their payments; we’ll continue issuing them as fast as we can,” the IRS wrote Saturday evening on Twitter.

Stimulus check: How much can you expect?

Deposits will continue in the days ahead, starting with people who have filed tax returns for 2018 or 2019 and authorized direct deposit. Others — including people who haven’t filed returns, authorized direct deposits, or receive Social Security — will probably have to wait weeks or months before seeing their money.

The distributions are part of the $2.2 trillion economic relief package passed by Congress in March.

Under the economic relief package, individuals are due up to $1,200 and couples will receive up to $2,400 — plus $500 per child. But payments start phasing out for individuals with adjusted gross incomes of more than $75,000. The amount will then be reduced by $5 for every additional $100 of adjusted gross income, and those making more than $99,000 will not receive anything. The income thresholds would be doubled for couples.

For those who haven’t filed a return for either 2019 or 2018, the IRS urges them to do so quickly including for those who don’t normally need to file a tax return. That includes individuals who earned less than $12,200 in 2019 and couples who earned less than $24,400.

Meanwhile, the IRS expects to start issuing paper checks the week of May 4, according to the House Democratic memo.

The paper checks will be issued at a rate of about 5 million per week, the memo says. Individuals with the lowest income, based on adjusted gross income, will receive their checks first.

In the past, it has taken longer to send checks than make direct deposits. In 2008, when the government distributed similar stimulus money, deposits were made over a three-week period, while paper checks were sent through the mail over a 10-week period.

According to the legislation, the IRS has until the end of 2020 to transfer the payments.

KSL 5 TV Live

Top Stories

Coronavirus

CHICAGO, ILLINOIS - SEPTEMBER 09: A pharmacist prepares to administer  COVID-19 vaccine booster sho...
Jed Boal

University Health recommends getting omicron booster and flu shot now

The CDC approved the COVID-19 bivalent boosters that target the most recent omicron variants on September 1. Since then, tens of thousands of Utahns have rolled up their sleeves.
2 days ago
FILE: Pfizer-BioNTech COVID-19 (left) and Moderna COVID-19 (right) vaccines are seen at a vaccinati...
Jed Boal

Despite reaching 5,000 deaths, Utah’s COVID-19 numbers are down

The director of the World Health Organization said yesterday about COVID-19, “the end is in sight,” even if we are not there yet.
13 days ago
FILE PHOTO (Photo by Al Bello/Getty Images)...
Associated Press

WHO: COVID end ‘in sight,’ deaths at lowest since March 2020

The head of the World Health Organization says the number of coronavirus deaths last week was the lowest reported number in the pandemic since March 2020, marking what could be a turning point in the years-long global outbreak.
13 days ago
A school classroom with chairs and desks...
Brooke Williams

Project to provide air purifiers in Utah K-12 classrooms

Cleaner air improves student performance, decreases COVID transmission and school absenteeism. New project provides air purifiers for classrooms in Utah.
14 days ago
SHANGHAI, CHINA - JULY 08: People walk by a closed store at a neighborhood designated as a medium-r...
Laura He, CNN Business

Zero- COVID-19 at what price? Chinese researchers are treading on sensitive ground

Authorities in Shanghai have denied a report by a leading Chinese real estate research firm that claimed more than a third of shops in a major mall had been shuttered because of strict COVID-19 curbs.
16 days ago
FILE: Pfizer-BioNTech COVID-19 (left) and Moderna COVID-19 (right) vaccines are seen at a vaccinati...
LAURA UNGAR AP Science Writer

Is COVID-19 winding down? Scientists say no

New booster shots have arrived and social distancing guidelines have eased but COVID-19 infections aren't going away anytime soon. Experts predict the scourge that's already lasted longer than the 1918 flu pandemic will linger far into the future as the virus continues to cause deaths and may well mutate or evolve into a new disease.
20 days ago

Sponsored Articles

young woman with stickers on laptop computer...
Les Olson

7 ways print marketing materials can boost your business

Custom print marketing materials are a great way to leave an impression on clients or customers. Read for a few ideas to spread the word about your product or company.
young woman throwing clothes to organize a walk in closet...
Lighting Design

How to organize your walk-in closet | 7 easy tips to streamline your storage today

Read our tips to learn how to organize your walk-in closet for more storage space. These seven easy tips can help you get the most out of your space.
Types of Computer Malware and Examples...
PC Laptops

5 Nasty Types of Computer Malware and Examples | Everything You Need to Know to Keep Your Computer and Family Safe

Here are the different types of computer malware and examples that could potentially infect your computer.
tips how to quit smoking...

7 Tips How to Quit Smoking | Quitting Smoking Might be One of the Hardest Things You Ever Do but Here’s Where You Can Start

Quitting smoking cigarettes can be incredibly difficult. Here are 7 tips how to quit smoking to help you on your quitting journey.
Photo: Storyblocks...
Blue Stakes of Utah 811

Blue Stakes of Utah 811: 5 Reasons To Call 811 Before You Dig When Working in Your Yard

Call before you dig. Even at home, you could end up with serious injuries or broken utilities just because you didn't call Blue Stakes of Utah 811.
Days of...
Days of '47 Rodeo

TRIVIA: How well do you know your rodeo? Take this quiz before you go to the Days of ’47!

The Utah Days of ’47 Rodeo presented by Zions Bank is a one-of-a-kind Gold Medal Rodeo being held July 20-23, 25 at 7:30 PM. The Days of ’47 Rodeo How well do you know your rodeo trivia? Take the quiz to test your know-all before heading out to the Days of ’47 Rodeo at the […]
IRS Deposits First Wave Of Stimulus Checks