The IRS has deposited the first wave of stimulus checks amid the COVID-19 pandemic.
The Coronavirus pandemic has put life on hold, meaning that many have been left without work as governments issue stay-at-home orders to their citizens. As the COVID-19 situation continued to evolve, the government passed the $2.3 trillion stimulus package to help out those who've been let go of their jobs. The Internal Revenue Service announced on Saturday morning that they have officially sent out the first wave of stimulus checks to Americans that applied.
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"#IRS deposited the first Economic Impact Payments into taxpayers' bank accounts today. We know many people are anxious to get their payments; we'll continue issuing them as fast as we can," they announced on Twitter.
Despite the first wave of checks, there are still many who might not see checks for weeks or even months. CNN reports that the IRS will send out more checks in the days ahead but those who will be receiving it must have already filed their returns for either 2018 or 2019. They'll also be sending out money to those who authorized direct deposit. The IRS is still pushing for those who haven't filed their taxes to do so urgently, even if they don't normally need to file returns.
Paper checks will only start going out on May 4th as the IRS plans on issuing 5 million checks a week. Citizens earning the lowest income will be among the first to have a check sent to them.