CHICAGO (NewsNation Now) — The U.S. is on track to distribute roughly 100 million stimulus checks in the latest round of coronavirus relief by Wednesday, according to President Joe Biden’s administration.
The U.S. Treasury Department said earlier this week that it had issued the third economic impact payments of up to $1,400, with many being mailed in the form of paper checks and debit cards. They will have an official pay date of Wednesday.
As of last week, the Treasury had distributed around 90 million payments to taxpayers. But with an estimated 85% of Americans qualifying for the latest round of stimulus checks, many are still waiting, NewsNation affiliate KTLA reported.
A large number of mailed payments are expected in this second batch, which began processing last Friday, according to the IRS.
“Taxpayers who do not receive a direct deposit by March 24 should watch the mail carefully in the coming weeks for a paper check or a prepaid debit card, known as an Economic Impact Payment Card, or EIP Card,” the agency said in a news release, adding that those payments should arrive “in the coming weeks.”
(Examples of what the envelope, paper checks and debit cards look like can be found here.)
Others receiving the payment via direct deposit may have received the money even before Wednesday, according to the IRS.
Those who want to check on the status of their payment and see if it has been scheduled can do so through the Get My Payment tool on IRS.gov. The website is updated daily, usually after midnight.
After putting in their information, users should receive a message indicating whether their payment has been processed or not. If it has, the site will provide a date of payment as well as how the funds were sent (by direct deposit or mail).
Additional payments are expected to go out on a weekly basis, the IRS noted.
“Because these payments are automatic for most eligible people, contacting either financial institutions or the IRS on payment timing will not speed up their arrival,” the agency warned.
The federal agency began sending out the stimulus checks on March 12, one day after President Joe Biden signed the $1.9 trillion coronavirus relief package, known as the American Rescue Plan.
A key provision of the bill, which was passed by the Democratic-controlled Congress along party lines, provides $1,400 stimulus payments to the vast majority of Americans.
Individuals earning up to $75,000 and married couples making up to $150,000 will receive the full amount. The payments gradually decrease from there and are phased out entirely for individuals and married couples with incomes of more than $80,000 and $160,000 respectively.
Eligibility for the third round is determined largely through 2019 or 2020 tax filings, but some people who didn’t file taxes either year can still get a check if they qualify. That includes individuals who registered for the first stimulus check through the special non-filers portal last year, as well as recipients of Social Security and other federal benefits who don’t usually file taxes.
Biden, Vice President Kamala Harris, their spouses and other White House officials are raising awareness across the country about the stimulus package. Over the past week, they’ve visited various states and made television appearances as part of what the White House is calling the “Help is Here” tour.
Last week, Biden said his administration would reach two important goals in the coming days: 100 million coronavirus shots in people’s arms and 100 million checks in people’s pockets or bank accounts.
More information about the third round of stimulus checks, including additional details about eligibility, can be found here.
Reuters contributed to this report.