Government Stimulus Checks Hitting Bank Accounts

Last week nearly 80 million Americans received government stimulus checks, as part of a $2 trillion stimulus act.

Those who made less than $75,000 on their last tax filing will receive a payment of $1,200, and households with an income of less than $150,000 will get $2,400. Payments decrease after that bracket, with individuals who make more than $99,000 not receiving a stimulus check. Each child is worth an additional $500.

This first group who recently received their check did so through direct deposit. Another round of direct deposits will happen in the near future, with paper checks being sent out over a several month process beginning in May. These payments come as part of the recent CARES act, which also provides several other forms of economic stimulus, such as further unemployment benefits.

Possibly delaying the issuance of the paper checks in May is Donald Trump’s decision to have his name printed on each check. This decision is unprecedented, as previous checks of this nature have included no such detail. Officials within the treasury have claimed thus far that the printing will not impact the time it takes to mail the checks, though IRS officials have stated they believe it likely will.