The bill to give $600 stimulus checks to taxpayers was signed by President Trump and payments are on their way, find out where Congress is at in the battle over increasing the amount to $2000…Will you get another $1400?
COVID-19 stimulus checks are in the mail
Last Sunday, President Donald Trump signed legislation for a coronavirus stimulus package that was approved by the House and the Senate that will give $600 to each American taxpayer making $75,000 per year or less.
President Trump signed the bill after a week-long delay as he demanded that the amount of the $600 stimulus checks to American taxpayers, which he called a “disgrace,” be raised to $2000. The battle to give Americans more money still rages on as a second payment of $1400 could be forthcoming.
$600 stimulus directly in your bank account
On the evening of Tuesday, December 29, 2020, The Treasury Department began the rollout of the $600 economic stimulus checks, with more scheduled to arrive on Wednesday, December 30, through direct deposit, the New York Post reported. The payouts will continue from there forward.
Treasury Secretary Steve Mnuchin tweeted: “@USTreasury has delivered a payment file to the @FederalReserve for Americans’ Economic Impact Payments. These payments may begin to arrive in some accounts by direct deposit as early as tonight and will continue into next week.”
The first payments will go through direct deposit to those individuals who have set up government-registered bank accounts with the IRS. The Treasury was scheduled to begin mailing out physical checks on Wednesday, December 30, to individuals who did not have direct deposit set up.
How much will you receive from the stimulus payment?
A $600 check will be issued to each individual taxpayer with a $600 payment for each dependent child.