NATIONWIDE — An Easter surprise awaits some Americans in their bank accounts as the first economic relief payments
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NATIONWIDE — An Easter surprise awaits some Americans in their bank accounts as the first economic relief payments have gone out, according to the IRS.
Americans who make less than $75,000 a year are expected to get a one-time payment of $1,200 as part of the CARES Act. Couples filing jointly get $2,400 and families with children under 16 get $500 per child. Those who make more than $75,000 will get a reduced payment, and people who make more than $99,000 will get nothing.
Taxpayers who filed tax returns in 2018 or 2019 and who have their bank account information on file with the IRS will get the payment via direct deposit. Others will get checks, but that will take longer.
People on Social Security, Disability or Survivor’s Benefits who don’t file taxes will not need to do so to get payments. If you haven’t filed taxes in 2018 or 2019 for other reasons, the IRS has a form to file a simple tax return on its website.
The IRS website is also launching a tool this month to allow people to check the status of their payment and add bank account information to get the payment faster.