WASHINGTON – Along with daylight saving time, this weekend could bring Americans fatter bank balances. Officials at the Treasury Department and Internal Revenue Service said Friday that processing of the new round of stimulus payments has already begun, with the aim of having the first payments start showing up in bank accounts this weekend.
President Joe Biden signed the new $1.9 trillion rescue package on Thursday, the day after it won final passage in the House.
The measure provides for payments to qualifying individuals of up to $1,400, with payments to a qualifying family of four of $5,600. “The payments will be delivered automatically to taxpayers even as the IRS continues delivering regular tax refunds,” IRS Commissioner Chuck Rettig