43ºF

IRS: Taxpayers began receiving coronavirus stimulus payments this weekend

Payments being directly deposited into bank accounts

IRS to start issuing stimulus checks
IRS to start issuing stimulus checks (Pexels)

DETROIT – The IRS tweeted Saturday that payments to qualifying Americans with direct deposit accounts set up had begun to receive their coronavirus relief payment.

RELATED: Financial expert helps you manager your money during the coronavirus (COVID-19) crisis

Those who don’t have direct deposit information registered with the IRS could wait months for checks to be mailed. The IRS is expected to roll out an online tool to help those that have not registered direct deposit do so.

The CARES Act that authorized the direct payments only approved a one-time deposit, but additional legislation could be passed in the future.



About the Author: