The IRS will begin electronic payments on April 9
According to an internal document reviewed by The Washington Post, the IRS plans to begin generating electronic payments on April 9 for taxpayers who have filed a 2018 or 2019 tax return and qualify for a stimulus check. Dependents older than 16, people without a Social Security number, and those with incomes above $99,000 (or $136,500 if you file as a head of household) will not be getting a stimulus check.
Up to 70 million people will be paid by April 15
Patricia McLaughlin, a spokeswoman for the Treasury, told The Post that 50 million to 70 million people would have their payments deposited by April 15.
The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, stipulates that stimulus payments will also go to Americans on Social Security retirement and disability benefits, even if they haven't filed a recent tax return.
"Social Security recipients who are not typically required to file a tax return do not need to take an action and will receive their payment directly to their bank account," Mnuchin said in a release.
The payments will be for the maximum amount — $1,200 — and paid by deposit or mailing information reported on tax forms SSA-1099 for Social Security recipients and RRB-1099 for people who retired from railroad service.
Paper checks will start going out April 24
For those who have not filed a tax return in the past two years or do not have direct-deposit information on file with the IRS, the agency said it would give taxpayers the opportunity to submit this information online before sending out paper checks.
"In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail," the IRS wrote on its website.
TurboTax has launched a free portal of its own for those who want to submit direct-deposit details to the IRS.