Yesterday, the IRS has come out with a video updating us on the stimulus packaged that was passed back in March under the Trump Administration. On Saturday, the IRS tweeted that they were finally processing checks of $1,200 to Americans to help and provide some financial stability in the middle of the Covid_19 pandemic. Since then, many have been checking their banks accounts waiting for their checks to arrive, with most having yet to receive them.
In this video, the IRS explains how they will begin processing these checks and when you're going to receive them. They'll be distributed in waves or "rounds of payments." $60 million of payments are scheduled to be made this week through direct deposit to Americans who filed their 2018/2019 tax returns. Ten days after this first round, the IRS will make a second run of payments to "social security beneficiaries who did not file tax returns in 2018/2019." After that, starting the first week of May, the IRS will send checks to individuals.
If you'd like more information, the specifics are covered in the official update below. If you didn't receive your check and want to keep track of your economic stimulus package status, check out this link here.