Americans are beginning to see the first economic impact payments hit their bank accounts.
The IRS tweeted Saturday that it had begun depositing the funds into taxpayers' bank accounts and would be working to get them out as fast as possible. The one-time payments were approved by Congress as part of an emergency relief package intended to combat the economic damage from the coronavirus pandemic.
The exact timing of when people get their money depends on a few factors, such as income and payment delivery method.
Here is what you should expect:
WHO IS GETTING A CHECK?
Any adult earning up to $75,000 in adjusted gross income who has a valid Social Security number will receive a $1,200 payment.
The payment steadily declines for those who make more and phases out for those who earn more than $99,000. For married couples, both adults receive $1,200, with the phase-out starting at $150,000 of income and falling to zero for couples who earn $198,000.
Parents will also get payments of $500 for each eligible child; this is generally those 16 years old or younger.