Pennsylvania U.S. Rep. Dwight Evans voted “yes” on the Coronavirus Aid, Relief, and Economic Security (CARES) Act. He’s also on the Ways and Means Committee, which sent out a memo earlier this month laying out the timeline for stimulus payments.
Individuals who filed tax returns in the past two years and have direct deposit information on file will be the first to receive monies. Of those taxpayers, older people and those with lower incomes will be prioritized and will get paid first.
“Lost income are the folks who are getting the income, because they have the greatest need there,” Evans said.
The IRS began issuing direct deposit payments on Friday and will soon send 5 million paper checks a week, beginning in a few weeks. However, it could take up to five months for all who qualify to get paid.
“It was a surprise — truly, a surprise — because I didn’t do anything,” said Laura, who declined to give her last name.
Laura — a veteran and retired federal employee, who now runs a photography business — noticed the $1,200 deposit in her bank account on Monday.
“It gives me an opportunity to save a little and think ahead — and be grateful,” she said.
The CARES Act promises payments of up to $1,200 per adult and $500 per child to help cover expenses during the coronavirus pandemic.
For taxpayers who do not have direct deposit information on file, the IRS will soon provide more details.