IRS says more stimulus payments to hit bank accounts Wednesday

The IRS said Monday that another batch of direct payments authorized by President Biden’s stimulus bill should begin hitting Americans’ bank accounts Wednesday, with mailed checks and prepaid cards soon to follow.

The agency said it began processing more stimulus payments to eligible households Friday, meaning those funds will likely be accessible for recipients Wednesday. Households will also begin receiving payments via mailed checks and prepaid debit cards.

“The IRS continues to send the third round of stimulus payments in record time,” said IRS Commissioner Charles Rettig. “Since this new set of payments will include more mailed payments, we urge people to carefully watch their mail for a check or debit card in the coming weeks.”

The agency, however, did not say when recipients of Social Security retirement or disability payments, railroad pensions and veterans benefits would receive their latest stimulus payments. The IRS said that it is working with other federal agencies to get updated 2021 income information for recipients.

The IRS has already disbursed 90 million direct payments to households after President Biden signed a $1.9 trillion relief bill on March 11. Individuals who made up to $75,000, heads of households who made up to $112,500 and married couples filing jointly who made up to $150,000 in adjusted income last year are eligible for checks of up to $1,400 per adult and qualifying dependent. 

Tags American Rescue Plan Coronavirus coronavirus aid coronavirus recession coronavirus relief coronavirus stimulus Joe Biden stimulus checks

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