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Mnuchin: Administration working on online system to help people get coronavirus relief checks faster

Mnuchin: Administration working on online system to help people get coronavirus relief checks faster
© Bonnie Cash

Treasury Secretary Steven MnuchinSteven Terner MnuchinBiden's Treasury pick will have lengthy to-do list on taxes On The Money: Initial jobless claims rise for 2nd week | Dow dips below 30K | Mnuchin draws fire for COVID-19 relief move | Manhattan DA appeals dismissal of Manafort charges Mnuchin to put 5B in COVID-19 relief funds beyond successor's reach MORE said Sunday that the administration is working to create an online system that will allow people to submit their direct-deposit information to the government so that they can receive their coronavirus relief checks more quickly.

"We will create a web-based system for people where [if] we don't have their direct deposit [information], they can upload it, so that they can get the money immediately, as opposed to checks in the mail," Mnuchin said on CBS News's "Face the Nation."

The coronavirus relief law that President TrumpDonald John TrumpPennsylvania Supreme Court strikes down GOP bid to stop election certification Biden looks to career officials to restore trust, morale in government agencies Sunday shows preview: US health officials brace for post-holiday COVID-19 surge MORE signed on Friday creates a program under which people will receive one-time direct payments from the Treasury Department. For individuals making less than $75,000 and married couples making less than $150,000, the checks amount to $1,200 per adult and $500 per child. The rebate amounts phase out above those income levels. 

Mnuchin has said that he expects taxpayers who have provided direct deposit information to the IRS to receive their checks "within three weeks." The law allows the IRS to disburse payments electronically to bank accounts that taxpayers had authorized in 2018 or later for tax refunds or other federal payments.

People who don't provide direct deposit information to the IRS are expected to receive their rebates more slowly because their payments will have to be sent in the mail. A GOP aide to the Senate Finance Committee told reporters last week the the Bureau of Fiscal Service is limited in how many physical checks it can issue at a time.