As of today,  the Internal Revenue Service is expected to begin processing stimulus payments and eligible taxpayers could receive deposits as soon as early next week, the Treasury Department, which oversees the agency, told Newsweek.

According to an internal IRS memo obtained by The Washington Post, the tax agency is planning "to generate electronic checks" today, though it will apparently take several days before those payments are reflected in account balances. The checks are part of the recent $2 trillion relief package designed to stimulate an economy stalled by the global coronavirus pandemic.

Direct deposits, the most immediate method, will be used for taxpayers whose banking information the IRS has on file. According to IRS statistics, 82 percent of taxpayers received refunds through direct deposit in 2019.

https://www.newsweek.com/irs-stimulus-direct-deposit-checks-1497129