The IRS announced in a tweet over the weekend that those stimulus checks have already started arriving in the accounts of eligible Americans around the country.
That means, as part of the government’s $2.2 trillion stimulus package, individuals with adjusted gross income below $75,000 are set to receive $1,200. Married couples filing taxes jointly who earn under $150,000 will get $2,400. Each qualifying child is worth $500.
The amount of the payouts decline above the $75,000/$150,000 level and end altogether at $99,000 in earnings for individuals and $198,000 for married couples.
With more than 16 million people losing their jobs amid the economic shutdown across the country, these checks couldn’t come soon enough. In anticipation of the cash infusion, excitement was bubbling up across Twitter TWTR, -2.30% , where #stimulusdeposit was the top trending topic:
While some celebrated getting the direct deposit:
Most were seemingly left to wonder when their’s will hit:
Of course, politics entered the fray:
While the #stimulusdeposit hashtag made for a fun time on social media, the reality is that many Americans believe it won’t make a meaningful difference if this shutdown lasts much longer.
In fact, about a third of Americans, including Angel Nicole below, say they expect that their share of the stimulus money won’t even sustain them for a full month — or help them out at all, for that matter, according to a recent Bankrate.com survey of nearly 1,500 adults.