IRS $1,400 Stimulus Checks Are In The Mail

[G.L.R.]

IRS Starts Processing $1,400 Stimulus Checks, Payments to Start Showing up This Weekend

March 12, 2021


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The Treasury Department and the Internal Revenue Service began processing a new wave of stimulus payments with the first checks expected to appear in bank accounts this weekend.

"The payments will be delivered automatically to taxpayers even as the IRS continues delivering regular tax refunds," IRS Commissioner Chuck Rettig said ... The government is aiming to disburse the payments in the next weed weeks. Roughly 85 percent of Americans are eligible for the payments. The stimulus bill is the first of all pandemic relief measures to not receive bipartisan support in Congress. The $1,400 payments will go to each adult, child and adult dependent, such as college students or elderly relatives. People with adjusted gross income exceeding $75,000 will receive smaller payments ... People can check the IRS website beginning on Monday to check the status of their payments. Taxpayers who provided their bank information to the IRS will have the stimulus payments sent directly to their accounts. Others will receive paper checks and debit cards. In a bid to save time, the IRS will use the bank info from the 2019 tax returns for those who have not yet filed their taxes for 2020. If a person's job situation changed last year because of the pandemic, which led to millions of people losing jobs or being forced to work reduced hours, officials said that the IRS will adjust the size of the new impact payments after the 2020 return has been filed and provide a supplemental payment if that is called for. Officials said those adjustments will be made automatically by the IRS for people who have already filed their 2020 returns.  Read more ...
 

IRS Starts Processing $1,400 Stimulus Checks, Payments to Start Showing up This Weekend
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