Stimulus Check Expected Arrival Between April-August
Stimulus Checks could begin to arrive in people’s bank accounts as early as next week. The IRS expects to begin making payments to about 60 million Americans through direct deposit and based on the information from Americans 2018 or 2019 tax returns. However, some people without direct deposit information may not get checks until mid-August or later.
The IRS plans to begin issuing paper checks to Americans without direct deposit information in the system during the month of May. The paper checks will be issued at a rate of about five million per week, which means it could take up to 20 weeks to get all the checks out. That timeline would delay checks until the week of August 17th.
The stimulus package was created to provide $1,200 to Americans earning up to $75,000 dollars a year and a total of $2,400 for married couples who earn up to $150,000 a year. Single filers who earn more than $99,000 a year and joint filers who earn more than $198,000 are not eligible for the stimulus package. The stimulus also provides $500 for each qualifying child.