Latest round of COVID-19 stimulus payments begin hitting bank accounts

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March 18, 2021

WASHINGTON (AP) – The Treasury Department has sent out 90 million economic impact payments totaling $242 billion since President Joe Biden signed a $1.9 trillion pandemic relief plan last week.

Most of those payments were made by the IRS as direct deposits – which officials say recipients starting seeing in their bank accounts last weekend. Meanwhile,

Treasury has mailed out roughly 150,000 checks worth about $442 million.

Processing of the payments began last Friday, the day after Biden signed the American Rescue Plan, which authorized direct payments of up to $1,400 to qualifying individuals.

Treasury said the first batch of payments went to eligible taxpayers who provided direct-deposit information on their 2019 or 2020 tax returns. Included were people who don’t typically file a return but who used a non-filers tool at IRS.gov last year to be included in two earlier rounds of COVID-19 relief payments.

Officials said additional batches of payments will be sent in coming weeks by direct deposit and through the mail as a check or debit card.