IRS Starts Issuing Stimulus Checks and You Could Be Waiting a While
The CARES Act promises financial relief for millions of Americans. Some have already received a direct deposit, but those waiting for a physical check could be waiting a while.
According to the IRS, direct deposit payments have started going out for those who paid their 2018 or 2019 taxes, and asked for direct deposit of their refund. The IRS says most direct deposit recipients should receive their payments by April 15.
For those who had not provided a direct deposit option, the IRS will issue paper checks, starting on April 24. They can only issue about 5 million checks each week - which means it could take as long as August or September for many to see their stimulus payment.
The IRS says it will send a letter to check recipients "to the taxpayer’s last known address within 15 days after the payment is paid." The letter will let you know how the payment was made, and what you should do if you don't receive it.
Complete information from the IRS about the economic stimulus payments is available at IRS.gov/coronavirus/economic-impact-payments.
MORE TO EXPLORE: See the the COVID-19 stimulus bill broken down by the numbers