Mirela Ciobanu
14 Apr 2020 / 5 Min Read
If during the 2008-2009 financial crisis, it took the government several months before the first stimulus payments were issued to the American people, now the Treasury Department and the IRS have worked ‘around the clock’ to get the payments out, a Treasury Department official told ABC News.
In March 2020 the US Congress passed a USD 2 trillion rescue fund and the bill was promptly signed by President Donald Trump. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides up to USD 1,200 for income-eligible individual taxpayers, and USD 2,400 for married couples, plus USD 500 per child.
Furthermore, the bill also provides an extension of unemployment benefits by 13 weeks and an additional USD 600 weekly for four months.
Taxpayers who provided the IRS with direct deposit information when they filed their taxes in 2018 or 2019 will receive their money the fastest. Others will have to wait for a paper check, and those checks are expected to be mailed starting in early May 2020, Newsy reported.Mirela Ciobanu
14 Apr 2020 / 5 Min Read
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright