April 13, 2020

2020 – 4/13

The IRS announced that it has deposited the first Economic Impact Payments into taxpayers’ bank accounts. “We know many people are anxious to get their payments; we’ll continue issuing them as fast as we can,” the tax agency announced on Twitter. In addition, the IRS has stated that cutbacks of live services at the IRS won’t slow the processing of the payments, which will be deposited in the bank accounts or sent to the last known addresses of Americans under certain income thresholds. As a result of the coronavirus (COVID-19), the IRS suspended many of its live services, including telephone assistance and paper correspondence and has been steering taxpayers toward electronic alternatives.