US Treasury Secretary Steven Mnuchin says he expects that more than 80 million Americans should have tax rebates directly deposited into the bank accounts by Wednesday. Many Americans qualify for tax credits approved as part of legislation designed to boost the economy as the country responds to the new coronavirus. Under the program, single filers received US$1,200 and joint filers US$2,400, though it phases out for higher incomes. Mnuchin said Social Security beneficiaries don't have to do anything. The money will be directly deposited in their bank account.-AP

Source: The Standard April 14, 2020 03:11 UTC