The Internal Revenue Service is slated to begin distributing economic impact payments authorized by the Coronavirus Aid, Relief, and Economic Security Act (CARES) this month. USA Today reports that the first set of $1,200 payments to individuals, and $2,400 for joint taxpayers, are on track to go out next week and that the first few sets of checks will be prioritized toward people who have low incomes and/or get Social Security payments. The IRS says most people won’t need to do anything to receive the payments. The payment phases out at $75,000 income for singles and $150,000 for couples.
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