Representative Cheri Bustos sent a message to constituents on Wednesday announcing a timeline for stimulus payments to be sent out. According to Representative Bustos, the week of April 13th, 60 million Americans will begin to receive stimulus payments via direct deposit. This means anyone who has filed taxes for 2018 or 2019 and has already provided the IRS with their banking information can expect to see a deposit of at least $1200.00 arrive next week. If you have not filed taxes in the last two years or have not had occasion to provide the IRS with your banking information for direct deposit you have two options. First, the IRS is setting up a portal that should be revealed soon for people to securely confirm their banking numbers for direct deposit. Or, you can wait for a paper check to be sent to the address you have on file with the IRS. Paper checks will be mailed in the first week of May.
The CARES Act provides direct cash payments to lower-and middle-income Americans of $1,200 for each adult and $500 for each child, beginning to phase out at an annual income of $75,000 for an individual and $150,000 for a household. “Illinoisans are facing uncertain financial futures due to the coronavirus outbreak and we must work to deliver relief to working families,” Congresswoman Bustos said. “I’ll continue to closely monitor the direct payments process to ensure they are received by those most in need.”