(KMOX) - In a tweet sent over the weekend, the IRS said the first wave of stimulus checks to help alleviate the economic downturn caused by the coronavirus pandemic had been deposited into taxpayers’ bank accounts. Payments will continue to hit those who opted for direct deposit for their 2018 or 2019 tax refund throughout the week.
"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," the IRS stated in a tweet.
For those who haven’t set up direct deposit for their tax refunds, getting the payment by mail could take months. The IRS is directing those who don’t use the online tool to make sure they're included, excluding social security recipients and railroad retirees.
The maximum payment for a family of four is $3,400. The payment will not be taxed. If you owe back taxes or have another government payment, you still will receive a stimulus check, however if you owe back child support you may see a reduction or no check at all.