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Trump at the stimulus bill signing. Photo: Erin Schaff-Pool/Getty Images

Coronavirus stimulus payments will begin to be distributed in mid-April, but Americans without direct deposit accounts set up with the IRS may not receive checks until August, according to a House Ways and Means Committee memo first reported by CNN and confirmed by Axios.

Why it matters: The IRS estimates that only about 70 million of the roughly 150 million Americans eligible for the payments have direct deposit information on file, according to CNN.

  • With record unemployment levels expected to continue growing, millions of families will have to endure the economic pain for months without direct cash payments from the government.
  • The payments are part of a $2.2 trillion stimulus package signed by Trump last week to limit the economic damage caused by the coronavirus.

Details: The IRS will begin depositing payments to 60 million Americans in mid-April, according to the memo. But paper checks won't start being mailed until the week of May 4, and they'll go out at a rate of 5 million checks per week.

  • That rate would mean the final paper checks would be distributed 20 weeks later — the week of Aug. 17.

The timelines are based on "extensive conversations with the IRS and the Department of Treasury," according to the memo. But they could change as discussions continue between the Trump administration and Congress.

  • The memo adds: "The Committee remains focused on ensuring all eligible Americans receive their payment as quickly as possible."
  • The Trump administration has already reversed an earlier provision that required social security recipients who don't typically file tax returns to do so in order to receive their payment.

Go deeper

Mike Allen, author of AM
2 hours ago - Politics & Policy

Biden's "overwhelming force" doctrine

President-elect Biden arrives to introduce his science team in Wilmington yesterday. Photo: Kevin Lamarque/Reuters

President-elect Biden has ordered up a shock-and-awe campaign for his first days in office to signal, as dramatically as possible, the radical shift coming to America and global affairs, his advisers tell us. 

The plan, Part 1 ... Biden, as detailed in a "First Ten Days" memo from incoming chief of staff Ron Klain, plans to unleash executive orders, federal powers and speeches to shift to a stark, national plan for "100 million shots" in three months.

Off the Rails

Episode 2: Barbarians at the Oval

Photo illustration: Sarah Grillo/Axios. Photo: Jim Watson/AFP/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. This Axios series takes you inside the collapse of a president.

Episode 2: Trump stops buying what his professional staff are telling him, and increasingly turns to radical voices telling him what he wants to hear. Read episode 1.

President Trump plunked down in an armchair in the White House residence, still dressed from his golf game — navy fleece, black pants, white MAGA cap. It was Saturday, Nov. 7. The networks had just called the election for Joe Biden.

Fringe right plots new attacks out of sight

Illustration: Aïda Amer/Axios

Domestic extremists are using obscure and private corners of the internet to plot new attacks ahead of Inauguration Day. Their plans are also hidden in plain sight, buried in podcasts and online video platforms.

Why it matters: Because law enforcement was caught flat-footed during last week's Capitol siege, researchers and intelligence agencies are paying more attention to online threats that could turn into real-world violence.