WASHINGTON D.C. - Watch your bank accounts because coronavirus aid checks are starting to hit bank accounts.
The IRS tweeted on Saturday afternoon that the first Economic Impact Payments were deposited into taxpayers' bank accounts.
They said that they will "continue issuing them as fast as we can."
According to a senior Treasury official, the majority of eligible Americans will receive their coronavirus aid payments no later than April 15.
As part of the CARES Act, people who file their taxes as individuals are eligible for payments up to $1,200, and couples who file jointly are eligible for up to $2,400 plus an additional $500 per child under the age of 17.
The first batch of payments will be received by Americans who filed their taxes in 2018 and/or in 2019 and received a refund via direct deposit.
The Internal Revenue Service (IRS) will soon launch an online tool to help everyone check the status of their Economic Impact Payment. It provides the status of the payment, including when it is scheduled to be deposited or mailed. It will also allow Americans who have not elected for direct deposit when filing taxes in 2018 or 2019 to enter their direct deposit information.
If you have not filed your taxes because you do not need to, you can go to the IRS website and use the “Non-Filers: Enter Payment Info Here” section to enter their bank information in order to receive their payment faster than they would via regular mail.
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