Stimulus Payments Will Start Arriving This Weekend, Treasury Department Says
The Treasury Department said Friday that stimulus payments would be direct deposit into bank accounts this weekend as the Biden government tries to get much-needed money for families in trouble.
Treasury Department and Internal Revenue Service officials said payments would be released in batches over the next few weeks, with some arriving in the mail in the form of checks or debit cards. The payments are Treasury Secretary Janet L. Yellen’s first major logistical test as millions of Americans eagerly await economic aid.
Payments will provide up to $ 1,400 per person including dependents. The amounts are reduced for those earning more than $ 75,000 and for married couples earning more than $ 150,000. Individuals earning more than $ 80,000 or couples earning more than $ 160,000 will not receive payments.
This is the third round of direct payments since the pandemic began last year. The amount of money each person qualifies for is based on tax information filed with the Internal Revenue Service for 2019 or 2020.
Finance has worked with financial institutions to ensure payments are coming in faster this time around than last year when millions of payments were misrouted to unused accounts. Most of the payments are expected to be delivered in the next few weeks.
On Monday, people can check the status of their payments on the IRS website
Some of the first rounds of payments last year were delayed because former President Donald J. Trump wanted the design of the checks to be changed to include his name on the note line. A tax official said Friday the checks will be signed as a career clerk. The words “Economic Impact Payment” appear in the note line.