More than 80M Americans should get stimulus money from federal government by Wednesday

WASHINGTON -- Americans should begin to see the first economic impact payments hit their bank accounts by Wednesday, White House officials said on Monday, April 13. Many Americans qualify for tax credits approved as part of legislation designed to boost the economy as the country responds to the new coronavirus.

Many Americans qualify for tax credits approved as part of legislation designed to boost the economy as the country responds to the new coronavirus. Under the program, single filers received $1,200 and joint filers $2,400, though it phases out for higher incomes.

Secretary of the Treasury Steve Mnuchin said on Monday that the payments started processing on Friday -- and should be direct deposited to peoples' accounts by Wednesday.

Mnuchin says if you do not receive your payment by Wednesday, the IRS will have a website available that would allow people to plug in information and allow for their direct deposit to take place quickly.

The secretary said if you are a social security beneficiary, you will not need to do anything -- the money will be direct deposited into your account.

Lastly, if you have not filed and did not need to file a tax return a 2019, you are urged to go to IRS.gov -- and enter information to authenticate yourself.