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Regulation and Compliance > Federal Regulation > IRS

First Stimulus Checks Sent to Bank Accounts

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Just as the first stimulus checks hit eligible Americans’ bank accounts Monday, Democratic lawmakers are calling on the labor secretary to issue additional guidance on unemployment benefits.

The first $1,200 stimulus payments should be deposited directly into individuals’ bank accounts Monday, House Ways and Means Republicans said. The precise date of the payments will depend on how long individual banks typically take to process direct deposits.

“This process will repeat every week until all economic impact payments (EIPs) are processed,” the lawmakers said.

The checks will be issued in reverse “adjusted gross income” order — starting with people with the lowest income first, the lawmakers said.

Treasury Secretary Steven Mnuchin tweeted Monday that he expects more than 80 million Americans to get checks by direct deposit by Wednesday.

Treasury and IRS said that these payments are being automatically issued to eligible 2019 or 2018 federal tax return filers who received a refund using direct deposit.

Non-filers can get their payment faster by using the ‘Non-Filers: Enter Payment Info Here’ web portal and entering their bank account information, Treasury and IRS said.

Also, eligible Social Security beneficiaries and railroad retirement recipients who did not file a tax return in 2018 and 2019 will be automatically sent their economic impact payments, primarily electronically.

After torpedoing a vote Thursday to increase small-business funding under the Paycheck Protection Program, Senate Democrats proposed Friday an interim coronavirus relief package that they argue will address the “immediate issues” facing local and state governments, hospitals and small businesses.

Senate Democratic leader Chuck Schumer said a bipartisan agreement on an interim emergency Coronavirus relief package could likely come this week. President Donald Trump is also mulling launching a Coronavirus economic task force.

Unemployment Guidance

Schumer, along with 33 other Democrats, told Labor Secretary Eugene Scalia in a Monday letter to clarify certain portions of Labor’s Friday guidance on the emergency unemployment benefits.

“[P]arts of the guidance appear narrow or ambiguous, which could make states think they need to exclude workers who Congress clearly intended to receive unemployment compensation through the Pandemic Unemployment Assistance (PUA) program,” the senators wrote.

Labor should clarify by Friday the following areas of its guidance: workers who have been diagnosed with COVID-19 without receiving a test, workers with COVID-19 who take time off of work, workers without child care options in summer months, workers unable to get to work due to stay-at-home orders, workers with underlying health conditions like asthma, and self-employed workers like gig workers who are unable to work due to plummeting demand for their services.

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