People all around the Blue Water Area are wondering when they can expect to start receiving the Covid-19 economic impact payments. The treasury department and the IRS have reported that payments will start going out in mid-April.
The Internal Revenue Service plans to make about $60 million payments to Americans through direct deposit, beginning April 13th. The first round of payments will go to taxpayers who used direct deposit to receive a tax refund in 2018 or 2019. Also, Social Security beneficiaries who filed federal returns that included direct deposit information will see checks appearing in their account in mid-April.
The IRS then plans to make a second round of payments, hopefully in late April, to Social Security beneficiaries who didn’t file 2018 or 2019 tax returns but receive their benefits through direct deposit. It is estimated that about 99% of Social Security beneficiaries who don’t file taxes receive payments by direct deposit. About three weeks after the first payments, approximately the week of May 4th, paper checks will begin to go out to eligible citizens starting with those with the lowest income.
Reporting for WGRT – Marty Doorn