Paper checks to start being mailed Wednesday, but full process likely to take months.
The latest round of coronavirus stimulus payments will start going out tonight, Treasury Secretary Steve Mnuchin said Tuesday.
The $600 payments that are part of the $900 billion COVID-19 relief package will arrive via direct deposit in some people’s accounts as soon as tonight, Mnuchin said in a tweet, and will continue into next week.
Paper checks will be mailed out starting Wednesday, he said.
Individuals can check the status of their stimulus payment at IRS.gov/GetMyPayment. The site is currently offline, but should be working soon, the Treasury Department said.
Recipients should be aware that Friday is a federal holiday, and banks will be closed, and that the entire payment dispersal process is expected to take about two months to complete.
Last week, Mnuchin told CNBC that the payments would be getting out quickly: “People go out and spend this money, and that helps small business and that helps getting more people back to work.”
After a four-day delay, President Donald Trump signed the relief bill, which also extends unemployment benefits and includes funds for small businesses, Sunday night
The possibility of raising the payment amount to $2,000 is in limbo at the moment. Trump supports the larger payment, and the House on Monday overwhelmingly approved such a bill, but Senate Majority Leader Mitch McConnell on Tuesday rejected two Democratic motions to vote on the bill, suggesting any vote would be dependent on adding language to the bill repealing liability protections for online speech and an investigation into potential voter fraud.
While the higher payments have broad support, some Senate Republicans say it is too expensive.