Americans receive first wave of $1,200 stimulus checks — here's when to expect yours

People across the country report receiving some of the first economic relief payments just before the Easter holiday

Americans nationwide received the first wave of stimulus checks during the weekend after the IRS deposited the first economic impact payments into bank accounts on Friday, as officials said more checks would come this week.

Those who filed tax returns for 2018 or 2019 and authorised direct deposits and have not yet received their payment may see the funds posted to their accounts as early as Wednesday, as most national banks were closed for Easter Sunday and began processing payments after the weekend.

The $1,200 stimulus checks — a product of the bipartisan $2trn congressional relief package created in response to the global coronavirus pandemic — were sent to all individual taxpayers with adjusted gross incomes of less than $75,000, with those thresholds doubling for couples.

For those who make more than $75,000, payments were reduced on an income-based sliding scale. Stimulus checks were not sent to anyone making more than $99,000.

On Friday, the IRS announced it deposited the funds in a tweet, writing: “We know many people are anxious to get their payments; we’ll continue issuing them as fast as we can.”

Meanwhile, Americans who have not authorised direct deposits would have to wait for their stimulus checks until at least May, according to several reports. An estimated 100 millions individuals across the country do not have direct deposits authorised for their tax returns.

As the IRS sought paper checks to begin issuing the funds, Politico reported as many as five million payments would be sent out over a 20-week period.

The IRS has updated its website for Americans who are not required to pay taxes and others who have not authorised direct deposits to provide their payment information.

Reports also indicated the IRS may soon launch an app called “Get My Payment” which allows users to provide direct deposit information to the IRS in order to more quickly receive their stimulus checks.

The congressional relief package was passed as nearly 17 million Americans filed for unemployment in recent weeks and millions of businesses were forced to close throughout the US, as governors ordered lockdowns in the vast majority of states.

More than 20,000 people have died from complications due to Covid-19, as health officials warn those numbers will continue to rise in the weeks ahead.