the long awaited US government stimulus payments – driven by coronavirus pandemic – will start flooding millions of bank accounts starting today (April 9), according to a internal plan circulated by IRS Treasury Secretary Steven Mnuchin.
By Miami Diario Newsroom
millions of americans should receive up to $1.200, when the first wave of payments begins.
The due date varies depending on each person's tax filing method, the Washington Post reported. Those who file electronically can have payments distributed more quickly.
I.R.S. must print and mail paper checks to Americans who did not file taxes electronically. They should start receiving their checks after April 24, when about $30 million in paper checks are scheduled to be mailed.
The money will come from the $2.2 trillion coronavirus stimulus package, which is intended to help individuals and small businesses with the struggles caused by the pandemic.
Meanwhile, President Donald Trump's urgent request for $250 billion to supplement a "paycheck protection" program for businesses crippled by the coronavirus outbreak has hit a roadblock in the Senate.
Democrats halted the legislation Thursday, demanding protections for minority-owned businesses as well as matching money for health care providers and state and local governments.
Majority Leader Mitch McConnell wanted to speed up Trump's request, but Democrats refused to give unanimous consent. That does not mean that the legislation is dead. Democrats and Republicans agree that it is urgently needed.
The program, which involves direct subsidies to businesses to keep employees on payroll, is rapidly drying up as businesses rush to apply for the aid.
Source: Click orlando
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