Those feeling the financial burn of the coronavirus may start receiving their $1,200 relief checks starting on Thursday, according to an internal IRS memo.
The memo, obtained by the Washington Post last week, reported that payments are set to begin on April 9 for some U.S. citizens. Those receiving electronic payments will see the money hit their bank accounts sooner rather than later, but others waiting for a paper check in the mail may have to wait until as late as September to get their funds.
Treasury Secretary Steven Mnuchin said last week that people would get their checks “within two weeks” if the IRS has their direct deposit information.
“Social Security, you’ll get it very quickly after [the first round of payouts]. If we don’t have your information, you’ll have a simple web portal, we’ll upload it. If we don’t have that, we’ll send you checks in the mail,” he said.
If the IRS does not have a person’s bank information, their wait could be significantly longer. Officials told House Democrats last week that some checks could take upward of 20 weeks to get out.
In total, the federal package signed by President Trump last month provided about $250 billion in relief checks. It is estimated that 145 million U.S. citizens will qualify for the coronavirus relief checks.
