The rise in the number of people in recent years who file their tax returns electronically, complete with their banking information, means the IRS can turn around their payments quickly.
“Within a matter of a few weeks,” a Republican Finance Committee aide said in a briefing today with reporters.
“Paper checks take a bit longer because the Bureau of [the] Fiscal Service can only process and push out so many paper checks a week,” the aide said. “It’s a pretty significant number but it would probably take, I think they were estimating four or five weeks to get the balance out.”
That’s why the IRS is looking into whether it might issue some payments instead “through debit cards or other medium.”
“Theoretically it could be faster than having Fiscal Service have to cut checks,” the aide said.
A coronavirus relief package now pending in the Senate would send tens of millions of Americans payments of up to $1,200 per adult and $500 per child.
Source Article from https://www.politico.com/news/2020/03/25/debit-cards-stimulus-payments-irs-149048
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