Coronavirus Stimulus Checks: Who Received a Direct Deposit Payment This Weekend?

Getty How much would you receive in the second round of stimulus payments?

Over Easter weekend, Americans across the country reported receiving stimulus payments via direct deposit. Many others are still waiting for their own stimulus checks to come in the mail or for the IRS to set up the direct deposit portal. So who was included in the first round of stimulus payment deposits?

On Saturday, the IRS confirmed in a tweet that it had issued the first round of stimulus payments to a group of Americans. The tweet read, “#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.”

Many people have taken to Twitter with screenshots of their stimulus payments, most of which say “pending,” likely because they were deposited over the weekend. The majority of those payments appear to be for $1,200, the maximum amount an individual can receive, and others are for over $3,000, presumably for a family.

Here’s what you need to know about who received stimulus payments so far:


Here’s Who Received Their Stimulus Payment This Weekend

According to the IRS, people who have filed tax returns for 2018/2019 and have previously authorized direct deposit with the IRS received their stimulus money over the weekend or will in the coming days.

People who haven’t yet filed their tax returns or who haven’t authorized direct deposit with the IRS will have to wait weeks or even months to receive their stimulus checks in the mail. A memo by the IRS has stated that paper checks will be issued at a rate of 5 million checks per week.

The IRS has not confirmed how many millions of Americans were included in this first round of payments, but many people have taken to Twitter to confirm having received the expected $1,200 stimulus payment in a direct deposit to their bank account, as seen in the tweet above.

Others have tweeted their frustration that they have yet to receive a payment. One user wrote, “I keep checking my bank account to see if the stimulus check has arrived and sadly it hasn’t. our government needs to do more than this one time payment of $1200. How do they expect us to survive on that if we have been out of our jobs for over a month maybe longer???”

An IRS memo reported by the Washington Post clarified how the IRS will mail stimulus checks to groups of people by salary, starting with those who earned the least in their most recent tax return. Here’s the breakdown of the IRS report, per The Post:

May 1

Checks for earners of $20,000 or less should be in the mail.

May 8

Checks for earners of $30,000 or less should be in the mail.

May 15

Checks for earners of $40,000 or less should be in the mail.

This process will continue each week in the same pattern, sending stimulus checks out in the mail through increments of $10,000 in earnings. By this strategy, the IRS is set to mail out 5 million checks a week, the Washington Post reports.

Here’s an extended projection of that timeline, based on this expected pattern:

May 22

Checks for earners of $50,000 or less should be in the mail.

May 29

Checks for earners of $60,000 or less should be in the mail.

June 5

Checks for earners of $70,000 or less should be in the mail.

READ NEXT: COVID-19 Stimulus Checks: IRS Offers New Direct Deposit Option

Read More
0
Would love your thoughts, please comment.x
()
x