LAS VEGAS (KTNV) — $1,400 coronavirus relief checks authorized with the passage of President Joe Biden's 1.9 trillion American Rescue Plan have begun landing in people's bank accounts through direct deposit less than a week after Biden signed the bill.
The U.S. Treasury Department said 90% of American families would receive relief under the bill, but not all would get the stimulus check.
Only individuals who make less than $80,000, heads of households making less than $112,500, and married couples making less than $150,000 would be eligible to get the stimulus payment.
In addition to the stimulus payments, parents can claim up to $3,600 a year in additional child tax credits.
The President said this round of stimulus was targeted at the families that need it the most.
"It changes the paradigm for the first time in a long time," he said, "this bill puts working people in this nation first. It's not hyperbole. It's a fact."
The Internal Revenue Service said the stimulus payments would be administered based on the recipient's 2019 or 2020 tax returns.