$1,200 coronavirus aid checks from IRS to be delivered starting Monday
The first direct payments of up to $1,200 for most Americans should be deposited into bank accounts starting on Monday, said the office of Rep. Kevin Brady of Texas, the top Republican on the House Ways and Means Committee.
The first round of payments will be deposited from Monday to Thursday, depending on how long individual banks typically take to process direct deposits, Mr. Brady’s office said.
The process will repeat every week until all payments are processed, with recipients with the lowest incomes receiving their payments first.
The direct payments are part of the $2.2 trillion economic rescue package signed into law by President Trump on March 27. Individuals with annual income of up to $75,000 will receive the full amount; payments will be phased out with an income cap of $99,000.
Qualifying people with children will receive an additional $500 per child.
The president and some lawmakers are supportive of a second round of direct payments, although such legislation hasn’t been proposed yet.