Politics - News Analysis

Trump Administration Says It Might Take Up to 6 Months to Get Stimulus Checks Out

Well, this is just about the most infuriating thing you will hear all day.

According to CNN, Trump administration officials told Congress that Americans won’t begin to get payments from the coronavirus stimulus bill until the middle of April, and it could take up to six months for all the checks to go out.

According to the CNN report, a memo from the House Ways and Means Committee says that by April 13th, the IRS will make about 60 million payments for taxpayers who provided their direct deposit information through their 2018 or 2019 tax returns.

Then during the week of May 4, which is three weeks later, the IRS will begin to issue checks to individuals whose bank information is not on file, which will take much longer. That means it could take up to six months to issue the checks to each American, as the rate is roughly 5 million per week.

“The Bureau of Fiscal Service estimates they can cut 20 million checks a month,” a source told CNN, but the checks could take longer for those who have not provided their tax information to the IRS.

“Everyone is eligible for the full rebate payments as long as they have an SSN and their household incomes are not too high,” The CARES Act states. “Rebate payments start to phase out at the thresholds of $75,000 for single filers, $112,500 for head of household, and $150,000 for married filing jointly.”

The full refund amounts are $1,200 per adult and $500 per child under 17 years old.

From CNN:

Congressional aides were told last week when they were briefed by the IRS that roughly 150 million taxpayers will be eligible for the payments, but of those the IRS estimated they only had about 70 million people’s direct deposit information on file. That means for roughly 80 million Americans, the IRS will have to rely on mailing checks.

“The Bureau of Fiscal Service estimates they can cut 20 million checks a month,” a source familiar told CNN.

The checks could take even longer to get to people for whom the IRS does not have tax information.

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