IRS starts depositing coronavirus 'Economic Impact Payments'

1 year 2 months 3 days ago Sunday, April 12 2020 Apr 12, 2020 April 12, 2020 11:24 AM April 12, 2020 in News - Coronavirus Pandemic
Graphic courtesy of the IRS.

The first coronavirus "Economic Impact Payments" arrived on Saturday, according to the IRS.

At 2:50 p.m. on Saturday, the agency tweeted "The IRS has issued the first Economic Impact Payments to bank accounts. More will be coming very soon."

Individuals who filed tax returns that showed income of $75,000 or less will receive $1,200, according to the IRS.

"The payments, also referred to by some as stimulus payments, are automatic for most taxpayers," according to the IRS website. "No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees."

For more details, visit IRS.gov.

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