1st round of stimulus checks arrive via direct depositApril 12, 2020
By Matthew Vann
Americans are receiving via direct deposit their first stimulus checks from the Treasury Department sent to help alleviate the economic downturn caused by the COVID-19 pandemic.
"We can confirm that payments are beginning to arrive in some Americans’ accounts," a senior Treasury official told ABC News. "Treasury and the IRS have worked around the clock to get fast and direct economic assistance to hardworking Americans.
"During the 2008-2009 financial crisis, it took the government several months before the first stimulus payments were issued to the American people. This administration has done it in just two weeks."
Treasury is working to automatically process payments for Social Security and help retirement recipients who did not file a tax return in 2018 or 2019, according to a statement from the department.
"Millions more Economic Impact Payments will be issued via direct deposit in the weeks ahead as we issue payments to social security recipients and as other taxpayers provide banking information on the tools provided," the statement continued. "We are working to secure the fast, secure and efficient delivery of payments to veterans, disabled, and other vulnerable populations."
The Treasury Department said the first payments, to Americans who received their 2018 and 2019 tax returns via direct deposit, will be going out no later than April 15.
Those who have not filed taxes are being directed to go to IRS.gov to enter their information so they can get their economic impact payments faster by direct deposit.
There is no commitment from the Treasury at this time regarding people who are waiting on paper checks, which may take a little longer to disburse.
Treasury also said it will launch a new app next week called "Get My Payment" to expedite the delivery of funds for tax filers who did not receive their refund electronically.
The stimulus checks are part of a massive $2 trillion stimulus package to provide essential relief to American workers and an economy reeling from the coronavirus crisis.