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