The Internal Revenue Service will send stimulus checks to qualifying Americans within three weeks.
Most individuals do not need to do anything to claim the funds, although those who didn’t file tax returns in 2018 or 2019 will need to submit a simple tax return to receive the stimulus payment, per Business Insider. The Treasury will create a web-based portal for households to provide the IRS with banking information to avoid the longer wait for a physical check by mail.
It is expected that about 90 percent of households will receive some kind of payment.
Individuals will collect as much as $1,200, $2,400 for couples, in addition to $500 per child, according to CNN.
Payments begin phasing out for individuals with adjusted gross incomes of more than $75,000, going down by $5 for every additional $100 of adjusted gross income. Individuals making more than $99,000 will not receive a payment. Income thresholds are doubled for couples.