• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 

2

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent

3

Current price of oil as of June 1, 2026

1

The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 

2

Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent

3

Current price of oil as of June 1, 2026
Financestimulus

Stimulus checks are coming: IRS begins sending first round of direct payments Friday

By
Laura Davison
Laura Davison
,
Allyson Versprille
Allyson Versprille
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Laura Davison
Laura Davison
,
Allyson Versprille
Allyson Versprille
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
March 12, 2021, 6:59 PM ET

The U.S. government is sending the first $1,400 stimulus payments under President Joe Biden’s pandemic-relief package out on Friday, with some people receiving them as soon as this weekend—a stream of income that economists anticipate will juice the country’s recovery in coming months.

“The first batch of payments will be sent by direct deposit, which some recipients will start receiving as early as this weekend, and with more receiving this coming week,” the Internal Revenue Service said in a statement Friday. “Additional batches of payments will be sent in the coming weeks by direct deposit and through the mail as a check or debit card. The vast majority of these payments will be by direct deposit.”

A Treasury official told reporters the department didn’t yet have an estimate for how many payments would be sent in the first round on Friday.

Some payments may appear as pending or as provisional payments in bank accounts before the official payment date of March 17, according to the IRS. Starting on Monday, recipients will be able to check the status of their money on the IRS’s “Get My Payment” online portal, a Treasury official told reporters.

Biden signed the $1.9 trillion stimulus legislation into law on Thursday, a package that includes more than $410 billion of direct payments for most Americans. The payments mark the third direct cash infusion in less than a year.

Read: How to track the status of your third round IRS stimulus check

The IRS has not yet released a date for when Social Security and other federal beneficiaries will receive their payments, which will be sent the same way as their regular benefits. A payment date for this group will be announced shortly, the agency said.

Payments in the form of checks or debit cards will take longer than electronic transfers. Those mailed payments will start arriving before the end of the month, an IRS official told reporters. The government also does not yet have a breakdown of how many people will receive an electronic transfer, versus the money in the mail.

For those whose tax returns have already been filed and processed, the IRS will use income data for 2020 to determine eligibility and size of payments. For people who have yet to file, the IRS will review 2019 tax data to determine the payments. The IRS will review 2020 returns as they come in to see if people are owed more, and automatically deliver supplemental payments without taxpayers needing to take further action, the agency official said.

IRS and Treasury officials said they’ve also taken steps to ensure payments don’t go to temporary bank accounts that have since been closed. Some individuals who used H&R Block and Intuit’s TurboTax to prepare their returns complained that previous stimulus payments went to accounts set up by the preparer that were no longer active.

The IRS and Treasury worked with financial institutions to address the issue, and developed a way to quickly re-route payments sent to incorrect or closed bank accounts back to the government—allowing them to be reissued.

The IRS and Treasury officials said they’ve also put some controls in place to ensure payments aren’t sent to people who shouldn’t receive them, such as deceased individuals. But the government doesn’t have up-to-the-minute information on households, so there will still be some margin of error, they said.

The law states that the payments cannot be offset to pay various past-due federal debts or back taxes, the IRS said.

About the Authors
By Laura Davison
See full bioRight Arrow Button Icon
By Allyson Versprille
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Finance

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Finance

‘Nobody’s safe’: Cognizant projected 90% of jobs would be disrupted by 2032—but we’re beyond it 6 years early
ConferencesCOO Summit
‘Nobody’s safe’: Cognizant projected 90% of jobs would be disrupted by 2032—but we’re beyond it 6 years early
By Preston ForeJune 1, 2026
7 hours ago
Why Amy Lee, the niece of Singapore’s first prime minister, helped launch a crypto-friendly bank
BankingCryptocurrency
Why Amy Lee, the niece of Singapore’s first prime minister, helped launch a crypto-friendly bank
By Angelica AngJune 1, 2026
7 hours ago
Warren Buffett, Chairman and CEO of Berkshire Hathaway, makes his way to a morning session at the Allen & Company Sun Valley Conference on July 13, 2023 in Sun Valley, Idaho
InvestingWarren Buffett
Buffett says Abel ‘has launched’ with his first big Berkshire deal: an $8.5 billion housing bet
By Eva RoytburgJune 1, 2026
9 hours ago
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
EnvironmentData centers
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
By Marco Quiroz-GutierrezJune 1, 2026
10 hours ago
Los Angeles' Pacific Palisades neighborhood pictured after the January 2025 wildfires.
Economywildfires
Last year was a ‘quiet’ one for wildfires. Catastrophic blazes in Canada, South Korea and LA still made it the costliest fire year in history
By Tristan BoveJune 1, 2026
11 hours ago
g
Economydisruption
Gen Z is losing the most in the AI economy—and Goldman warns it’s about to get worse
By Nick LichtenbergJune 1, 2026
11 hours ago

Most Popular

The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 
Energy
The Iran conflict has disrupted oil supply. Gulf states are now looking to multi-billion-dollar investments in renewables 
By Melissa HancockJune 1, 2026
14 hours ago
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
Environment
Erin Brockovich, the activist who defeated a utility giant and inspired a Julia Roberts film, is pushing data centers to be more transparent
By Marco Quiroz-GutierrezJune 1, 2026
10 hours ago
Current price of oil as of June 1, 2026
Personal Finance
Current price of oil as of June 1, 2026
By Joseph HostetlerJune 1, 2026
16 hours ago
Current price of silver as of Monday, June 1, 2026
Personal Finance
Current price of silver as of Monday, June 1, 2026
By Joseph HostetlerJune 1, 2026
16 hours ago
After issuing more than $20 billion in tariff refunds, the Trump administration is now pursuing legal action to bring the process to a standstill
Law
After issuing more than $20 billion in tariff refunds, the Trump administration is now pursuing legal action to bring the process to a standstill
By Sasha RogelbergJune 1, 2026
11 hours ago
I wrote that Boomers were choking America’s economy. Their responses to me were revealing
Personal Finance
I wrote that Boomers were choking America’s economy. Their responses to me were revealing
By Nick LichtenbergMay 31, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.