Stimulus checks could take up to five months to reach some people
Written by Site Hub on April 7, 2020
On Thursday, April 2, several media outlets, including CNN and The Hill, obtained a Democratic House Ways and Means Committee memo that outlined how some Americans might not receive their stimulus funds for 20 weeks or five months from some time in May. Although Treasure Secretary Steven Mnuchin originally advised the public that the initial dispersal of funds would start on or around Monday, April 6, the Internal Revenue Service has stated that it can’t make that date work. Instead, the new tentative date for direct deposits is now April 13. Individuals who make $75,000 or less can expect $1,200. Families can expect an extra $500 for each child.
People who filed taxes in 2018 and 2019 with checking accounts on file with the IRS will receive funds in the first disbursement wave. The IRS estimates that it will make 60 to 70 million direct deposits the week of April 13. The IRS won’t be able to then proceed with the next wave until tentatively May 4. American citizens who have the lowest incomes should receive their stimulus funds first. Since the IRS can only issue approximately 5 million checks per week and estimates 80 million people qualify for the money, the 20 weeks/5 months is a disbursement time frame estimate.
https://www.cnn.com/2020/04/02/politics/stimulus-20-weeks-irs/index.html
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