Mnuchin: Stimulus payments to begin arriving Tuesday night

Treasury Secretary Steven Mnuchin Steven Mnuchin House passes bill boosting stimulus checks to ,000 in bipartisan vote Questions and ans...

Treasury Secretary Steven MnuchinSteven MnuchinHouse passes bill boosting stimulus checks to ,000 in bipartisan vote Questions and answers on COVID-19 relief package Southwest Airlines says it won’t furlough workers after Trump signed relief bill MORE said that stimulus payments from the most recent coronavirus relief package could begin landing in Americans’ bank accounts as early as Tuesday night.

Mnuchin said in a tweet that the Treasury Department had delivered a payment file to the Federal Reserve in association with the package and that “payments may begin to arrive in some accounts by direct deposit as early as tonight and will continue into next week.” 

He added that paper checks will begin to be mailed Wednesday.

The coronavirus relief package, which President TrumpDonald TrumpTrump calls for end to ‘religious persecution worldwide’ on 850th anniversary of Thomas Becket’s death Michael Cohen interview sparks questions after he mentions prison friends ‘Tony Meatballs and Big Minty’ Ocasio-Cortez rails against both Democrats and Republicans who opposed ,000 direct payments MORE signed on Sunday, provided for direct payments of up to $600 per adult and per child under 17. Individuals with income of up to $75,000 and married couples with income of up to $150,000 are eligible for the full amount, and the amounts are reduced for people with incomes above those thresholds.

Under the relief package, the IRS has until Jan. 15 to issue the automatic payments. Eligible people who do not receive their payment or who did not receive some or all of the payment to which they were entitled under March’s CARES Act, can claim a tax credit when they file their 2020 tax returns next year. The CARES Act authorized payments of up to $1,200 per adult and $500 per child.

The announcement that $600 payments are starting to be sent out comes amid a push by Trump and some lawmakers to increase those payments to $2,000. Treasury said Tuesday that if further legislation is enacted to increase the payment amount, payments that have already been issued will promptly be “topped up.”

Updated at 6:46 p.m.

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Newsrust: Mnuchin: Stimulus payments to begin arriving Tuesday night
Mnuchin: Stimulus payments to begin arriving Tuesday night
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