$600 Stimulus Checks on Their Way to Americans

$600 Stimulus Checks Could Already be in Some Bank Accounts

The $600 stimulus checks from the latest COVID relief bill are officially on their way to bank accounts, according to two tweets from Treasury Secretary Steven Mnuchin on Tuesday evening.

Checks could have arrived as early as Tuesday evening for those who have direct deposit, according to Mnuchin. The IRS also confirmed that initial direct deposits began on Tuesday and will continue through next week.

“Some Americans may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of Jan. 4, 2021,” the IRS wrote in a statement Tuesday.

Your stimulus check will come this way if you set up direct deposit with the IRS for your 2019 tax return by providing them with your bank account information. If that information has changed, it will delay the receipt of your stimulus check, according to the IRS.

Direct deposits will start Tuesday evening and continue through next week, according to Mnuchin.

If you don’t have direct deposit set up with the IRS, it will likely take longer for a stimulus check to arrive, as it will be mailed to you either in the form of a paper check or a debit card. In addition, if you do have direct deposit set up but don’t receive your check this way by early January, keep a close eye on your mail, according to the IRS.

Paper and debit card checks will begin to be mailed to eligible recipients on Wednesday, according to Mnuchin and the IRS.

For those getting either a paper check or debit card, payments will conclude in January, to the IRS said. Later this week, eligible Americans will be able to track the status of their check through the “Get My Payment” tool on the IRS site.

The amount of the stimulus checks could change. Even as $600 checks are going out, Congress is still battling over increasing the economic impact payment amount to $2,000 for individuals.