Americans Received Economic Impact Payments; The U.S. Treasury Department proudly announces that more than 80 million U.S. people will receive automatic Economic Impact Payments into their bank accounts, this week. The U.S. Treasury Department and the Internal Revenue Service transferred Economic Impact Payments of tens of millions of Americans via direct deposit by Wednesday, April 15. As per the details, those eligible 2019 or 2018 federal tax return filers received automatic payments who received a refund using direct deposit.
It is highly appreciable that the IRS and Treasury are working with extraordinary speed to facilitate American people during the coronavirus pandemic hit. In order to provide coronavirus relief to U.S. taxpayers, Economic Impact Payments are one remarkable step. This week, more than 80 million Americans received Economic Impact Payments in their bank accounts automatically by the IRS and Treasury fast and direct assistance. The Secretary at Treasury, Mr. Steven T. Mnuchin, shared words on the successful Economic Impact Payments automatic transfer to the eligible 2019 or 2018 federal tax return filers and said,
We are pleased that many Americans are receiving their Economic Impact Payments. This Administration is delivering fast and direct economic assistance to hardworking Americans, and we hope these payments will bring them much-needed relief.
Taxpayer Americans Received Economic Impact Payments This Week
Eligible taxpayers who filed tax returns for either 2019 or 2018 and chose direct deposit of their refund have started to receive automatic Economic Impact Payments into their bank accounts. As per details, $1,200 for individuals or $2,400 for married couples and $500 for each qualifying child will be received automatically by the eligible people. In near future, the IRS commits to automatically deposit Economic Impact Payments to Social Security retirement recipients, survivors or disability benefits, SSDI or who receive Railroad Retirement benefits. More than 80 millions of Americans received Economic Impact Payments before April 15, 2020.
When the IRS will roll-out the next Economic Impact Payments?
It is further expected by the IRS and Treasury that a large majority of eligible Americans will receive Economic Impact Payments before the end of April 2020. The IRS also launch ‘Non-Filers: Enter Payment Info Here’ web portal where the non-filers can get faster payments by entering their bank account information. The IRS further says that eligible Social Security beneficiaries and railroad retirement recipients who will also receive automatic Economic Impact Payments. Those who did not file a tax return in 2018 and 2019 will be sent electronic Economic Impact Payments.
Regardless of how an individual receives his payment, a letter is mailed to him approximately 15 days after the automatic payment by the IRS. The letter is mailed on the most current address of the individual available to the IRS. Do you qualify to receive Economic Impact Payments from the U.S. government coronavirus relief program? Contact our representative to help you out in each query regarding Economic Impact Payments in USA.