U.S. to Announce Direct Cash Payment to Americans in Response to Coronavirus

Published by Matt Fishman on March 17, 2020March 17, 2020

Secretary of the Treasury Steven Mnuchin has announced a “stimulus package to the American worker” is in progress, with the goal of “sending checks to Americans immediately”.

In a coronavirus press briefing now, the Treasury Secretary said “Americans need cash now, and the President wants to get cash now”. The Secretary alluded that the cash amount will be “a little bit bigger than what’s in the press ($1,000)”. He clarified “we don’t need to send people who make $1 million a year checks”, but will get money to those whose who need it.

Additionally, after filing your taxes, “if you owe a payment to the IRS, you can defer a payment up to $1 million as an individual”, which will remain “interest free and penalty free for 90 days”.