You can see your $ 600 coronavirus stimulus payments in your bank accounts as early as Tuesday, even when President Donald Trump and Congress discuss paying a bigger check.
The Treasury Department said on Tuesday that payments will start to go out on Tuesday night and continue next week. Direct deposits will be coming out soon, while paper checks will be sent on Wednesday.
“These payments are an integral part of our commitment to provide vital additional economic relief to the American people during this unprecedented period,” said Treasury Secretary Steven Mnuchin.
Payments will be distributed automatically, and if Congress increases the amount to $ 2,000, additional funds will be distributed as quickly as possible.
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The $ 600 checks will go to individuals and dependent children under the age of 17. They start to be eliminated with $ 75,000 for unique registrars and disappear entirely with $ 87,000, according to the Tax Foundation, a research group. For couples filing jointly without children, they gradually eliminate between $ 150,000 and $ 174,000.
Trump pressured Congress to increase the payment amount, and House Democrats quickly passed legislation to do so on Monday, attracting 44 Republicans.
Senate majority leader Mitch McConnell, R-Ky., Blocked on Tuesday the consideration of the bill in his chamber, despite the support of the president and Democratic and Republican senators.
To check the payment status, visit IRS.gov/GetMyPayment. For more information on Economic Impact Payments, visit IRS.gov/EIP.
Jonathan D. Salant can be contacted at [email protected].
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