First round of stimulus check on the way

(KYMA, KECY)- The first round of coronavirus stimulus check is on its way.

According to USA Today, much-awaited stimulus cash will begin flooding into millions of bank accounts next week in the first wave of payouts to shore up the nation's wallets.

The money will help millions of taxpayers to pay rent, groceries, and other bills.

Reports say the first group is estimated to cover 50 million to 60 million Americans including people who have already given their bank account information to the Internal Revenue Service.

To see if you're eligible for the stimulus check click here.

The first group also would include Social Security beneficiaries who filed federal tax returns that included direct deposit information, according to an alert put out today by U.S. Rep. Debbie Dingell, D-Mich. Dingell's announcement said the expectation is that the first direct deposits would hit in mid-April, likely the week beginning April 13. 

Sources say if you filed your 2019 tax return the IRS is going to use the same bank account information that you might have supplied for the direct deposit for your income tax refund. You'd want to check your account to verify whether the money has arrived. 

If you did not yet file a 2019 return, the IRS is using information from your 2018 tax filing to calculate the payment. And the money would be deposited directly into the same banking account reflected on the return.

The next wave of money is expected could begin as early as April 20 for those who receive Social Security benefits via direct deposit.

USA Today says the last wave of money would involve the mailing of actual stimulus checks at a later date. The paper checks themselves would be staggered over several weeks. 

The Treasury Department is expected to launch a web-based portal system sometime late next week that would allow people to provide their own direct deposit information in order to speed the delivery of money and avoid the checks altogether.

Visit www.irs.gov/coronavirus for updates and information on the portal.