ORLANDO, Fla. - White House Press secretary Jen Psaki said most Americans can expect to start seeing direct deposits from the recent COVID-19 relief package as early as this weekend. While some Americans have reportedly already seen the money hit their bank accounts, millions of others have not.
According to CNBC, a Treasury official confirmed that the first batch of $1,400 stimulus checks will be sent to those who have direct deposit information on file for when they filed 2019 and 2020 taxes. However, it's not clear how many people with direct deposit will be included in the first wave.
Anyone who did not set up direct deposit with the IRS will be sent a paper check or debit card in the mail. Over the next few weeks, all checks should be deployed to Americans who are eligible to receive them on a rolling basis.
The stimulus payments include $1,400 checks for individual Americans making $75,000 or less.
President Joe Biden on Thursday signed into law a sweeping coronavirus relief package that includes $1,400 stimulus checks for many Americans — but some individuals with unpaid debts could have that money seized this time around.
Debt collectors will be able to garnish the third round of cash payments that are expected to be delivered to Americans by the end of the month as part of Democrats' $1.9 trillion American Rescue Plan. But unlike the first two payments, which explicitly prevented creditors from snatching the money, the checks will not be exempt from garnishment.
"While Democrats intend to protect the third payment from private debt collectors, Senate rules did not allow us to include that protection in the American Rescue Plan," Sen. Ron Wyden, D-Ore., said in a statement on Monday. "I will be introducing standalone legislation to ensure families receive their much-needed relief payments."
If you want to track the status of your payment, the IRS will be launching its 'Get My Payment’ site on Monday. This was used during the first and second rounds of stimulus checks sent out last year. The site will be updated regularly as payments are processed.
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