With May’s bills coming due soon, many people are still waiting to get their $1,200 stimulus payment as part of thetrillions in federal assistance meant to help Americans suffering from the financial fallout of the coronavirus.
Under the $2 trillion Coronavirus Aid, Relief, and Economic Security Act, or Cares Act, passed last month, the Treasury will eventually send out 150 million stimulus payments to eligible Americans.
On Friday, the Treasury Department and the IRS reported that 88.1 million payments worth nearly $158 billion had been issued in the program’s first three weeks. That’s no small feat. Yet it’s little consolation for the tens of millions worried about when they’ll get their money.
Because agencies keep separate systems, it took some effort to figure out how to automatically send payments to people receiving certain federal benefits, such as Social Security.
Payments are automatic for people who receive Social Security retirement, survivor or disability, and Supplemental Security Income (SSI). People who receive Railroad Retirement benefits and Veterans Affairs beneficiaries who didn’t file a tax return in the last two years […]