IRS starts depositing coronavirus 'Economic Impact Payments'
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.
#IRS deposited the first Economic Impact Payments into taxpayers’ bank accounts today. We know many people are anxious to get their payments; we’ll continue issuing them as fast as we can. For #COVIDreliefIRS updates see: https://t.co/hEEWmgHA9V pic.twitter.com/2bSHOTjMAS— IRS (@IRSnews) April 11, 2020
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