Slowly-but-surely, Americans are beginning to see their coronavirus stimulus rebates appearing in their bank account.
The U.S. Treasury Department announced Monday that the first wave of stimulus payments have begun heading into bank accounts.
Treasury Secretary Steven Mnuchin said he expected most of the rebates to be deposited into the designated bank accounts of millions Americans by Wednesday.
The program provides a maximum payment of $1,200 for single filers and $2,400 for joint filers. Individuals making up to $75,000 annually and couples making up to $150,000 annually will receive the full $1,200 or $2,400.
Payments are reduced by five dollars for $100 earned above the $75,000 or $150,000.
Individuals earning more than $99,000 and couples and joint filers earning a combined income of more than $198,000 do not qualify for the payments.
For taxpayers who receive their Internal Revenue Service refunds by check, the tax collection agency announced it will be unveiling a new tool to track the progress of the payment.
Meanwhile, those individuals who did not file a tax return in 2018 or 2019 and are eligible for the coronavirus stimulus payment can file information with the IRS to receive their payment.
