WASHINGTON – United States workers and families will start to see stimulus funds go into their bank accounts as soon as this weekend, just days after President Joe Biden signed the US$1.9 trillion (RM111 trillion) rescue plan into law, officials said yesterday.
This third round of pandemic impact payments for many families will be more generous than the two prior rounds, with US$1,400 going to every individual earning up to US$75,000 or married couples earning up to US$150,000, and the same amount for each of their dependents.
That means a typical family of four will receive US$5,600.
The Internal Revenue Service (IRS) will send payments directly to everyone who filed a tax return this year or last year, anyone who registered with the IRS or who is already receiving government benefits, such as social security.
An IRS official said paper cheques will go out later in the month for those who do not have direct deposit, but unlike his predecessor, Biden’s name will not appear on those cheques.
Treasury and IRS officials urged workers to file a tax return even if they will not normally do so since they could also be eligible for other benefits under the stimulus package, including child tax credits or the earned income tax credit for low-wage workers. – AFP, March 13, 2021
