Here’s Why Some Americans May Have To Wait Months For Their Stimulus Checks
While millions of Americans are smarting for financial relief to their pay bills and essentials after facing layoffs due to coronavirus, it’s looking like many might get kicked while already down.
It was reported by NBC News that many Americans may have to wait months before receiving their $1,200 COVID-19 stimulus check.
The first Americans to get relief payments from the government under the coronavirus legislation signed into law last month won’t see the money until at least the week of April 13, according to new estimates from the Trump administration provided to House Democrats and outlined in a memo circulated this week by Democrats on the House Ways and Means Committee.
But there’s a catch to getting your payments early: one would have had to set up direct deposit with the IRS upon filing their 2018 or 2019 tax returns.
According to the memo obtained by NBC, roughly 60 million Americans with direct deposit will begin to see their money by the middle of April. But for those without direct deposit set up, including many older Americans, they will not start seeing their checks until the week of May 4. It seems that the office that issues paper checks can only process roughly 5 million checks per week, thus it could take nearly 5 months to get them all out.
Luckily, lower-income individuals will take precedence and their checks will be processed first. As far as those on Social Security, nothing at all changes for them as the rebate will be issued in the same way as their monthly Social Security checks.