The Internal Revenue Service (IRS) and the Treasury Department had started sending direct deposits for the latest round of stimulus payments in bank accounts Tuesday night and will send paper checks on Wednesday. 

Stimulus Money
(Photo : Unsplash/@jinyun)

President Donald Trump signed into law on Sunday a nearly $2.4 trillion relief measure that includes a $900 billion stimulus package.

The benefits included in the stimulus package are the $600 stimulus checks, Paycheck Protection Program (PPP) loans, unemployment benefits, and more. 

Read also:$600 Stimulus Checks: Who are Qualified and When Will it Arrive? 

IRS and the Treasury Started Sending Stimulus Checks

Millions of people across the country have long been asking and waiting for the second round of stimulus checks.

After months of disagreements over the package's total amount, both parties have finally agreed, and Trump immediately signed it into law. 

According to a recently published CNET report, the IRS started sending the second stimulus payments to bank accounts on Tuesday night while others will begin receiving checks on Wednesday. 

Some already posted on their social media accounts that they already received their stimulus payments. This is so far the fastest distribution of stimulus payments.

It can be remembered that it took two weeks for the IRS last March to send out the $1,200 stimulus payments. But this time, it only took them at least two days to start sending the pandemic aid. 

Treasury Secretary Steven Mnuchin confirmed on his official Twitter account that "these payments may begin to arrive in some accounts by direct deposit as early as [Tuesday] and will continue into next week." 

Read also: House Approves Bill To Increase Next Stimulus Checks To $2,000 

Stimulus Checks in the Mail Starts this Wednesday

The IRS confirmed that they would start sending the stimulus checks in the mail this Wednesday.

The IRS said anyone who received the first round of payments earlier this year but did not receive a payment via direct deposit would generally receive a check or, in some instances, a debit card. For those in this category, the agency said these payments would conclude in January. 

The IRS added that those who qualified for the stimulus check could track it through the Get My Payment tool. This would help qualified residents monitor the first and second payments. 

The agency further noted that those who received a paper check last time might receive a debit card this time, and some people who received a debit card before may receive a paper check. 

The IRS said that these payments would arrive in a white envelope that displays the Department of the Treasury seal. 

It can be remembered that many received the same envelope during the first payment, but they disregard it because they thought it was not the stimulus they expected. 

It is also important to note that the cutoff date by which time the IRS and Treasury Department would stop sending payments is on Jan. 15. 

If you don't receive the second payment on or before Jan. 15, you will need to claim all or part of the missing amount when you file your federal tax returns in 2021 through the Recovery Rebate Credit.