Americans hard hit financially due to the fallout from thecoronavirus who are anxiously waiting for cash relief may catch a break.
FOX Business has learned that theInternal Revenue Servicehas sped up its process and is now targeting “early next week” for the direct deposit checks.
The first checks could be directly deposited as early as Monday or Tuesday with the first paper checks mailed starting April 20.
For anyone needing to adjust their direct deposit information, the IRS will be providing that option by the end of the week.
STIMULUS CHECKS: WHO GETS THE MONEY AND WHEN
Originally Treasury SecretarySteven Mnuchinsaid the first direct deposits from the IRS would go out on April 17.
The Trump administration and lawmakers plan to give many American households direct cash relief amid the economic fallout from the coronavirus outbreak.
UNEMPLOYMENT SOARS DURING CORONAVIRUS PANDEMIC
The payments will be $1,200 per adult for those with adjusted gross incomes of up to $75,000. The threshold for married couples is $150,000 – they are eligible for $2,400 and $500 per child.
In March, unemployment spiked to 4.4 as employers shed 701,000workers. Economists predict those numbers will rise in the coming months.
FOX Business' Brittany De Lea contributed to this report.