The authorities have already issued the first package of paper funds and are preparing the prepaid plastics.
The IRS has already begun mailing out physical stimulus checks for $1,400 in support of the pandemic crisis.
According to the Treasury Department, there are 150,000 paper checks, worth approximately $442 million dollars.
Stimulus check beneficiaries will receive the envelope from the USPS in two weeks at the most, but will be able to cash or deposit the funds immediately, officials said.
This first package will be followed by others for beneficiaries receiving less funding, i.e. people earning between $75,000 and $80,000 per year. Those who report income above that range will not receive support.
What about the cards?
There are reports that the IRS is already printing prepaid debit cards, which it will begin mailing the week of March 22.
Like the printed checks, the cards will arrive at households at least two weeks after they are issued, so beneficiaries could receive the funds the first week of April.
Also for this type of remittance of funds there is a schedule for releasing the “packages” to beneficiaries on a weekly basis.
It is important to remember that the IRS has until December 31 to distribute the resources allocated in the U.S. Rescue Plan, so those who do not receive them in the next two months have enough time to claim them.
However, if a person does not receive the aid this year, he/she can claim it in the next tax report.
How to Track It
The IRS updates its Get My Payment tracking tool daily.
Its application shows recipients’ payment status, including when a check is scheduled to be delivered or if bank deposits are pending, as has happened to some couples receiving aid in two parts.
One advantage is that the portal can also flag if there is a problem with the payment, so recipients can make the necessary adjustments, including address correction.