More than 88 million emergency payments totaling $158 billion are out the door: IRS

The Internal Revenue Service on Friday said the federal government has issued more than 88 million emergency direct payments to individuals that collectively totaled about $158 billion over a three-week period ending April 17.

“The IRS, Treasury and partner agencies are working non-stop to get these payments out in record time to Americans who need them,” said IRS Commissioner Charles Rettig.

A total of more than 150 million payments, which were a central feature of a recent $2.2 trillion economic rescue package, are expected to be sent out.

The IRS also released a state-by-state breakdown of where the “economic impact payments” are going.

California, home to nearly 40 million people, led the way with 9.1 million payments totaling roughly $15.9 billion.

California, Florida, and Texas - the three most populous states in the country - each saw more than $11 billion flow to residents. The bulk of the 50 U.S. states have seen total direct payments top $1 billion.

The full amount of $1,200 for individuals is available for people earning up to $75,000 per year.

Couples can earn a full amount of $2,400 if they make up to $150,000 per year, and there’s also an additional $500 credit per qualifying child.

The money is getting processed more quickly for people who filed tax returns in 2018 and 2019 and included direct deposit information. Others will receive paper checks.

The U.S. Treasury Department also formally told Congress that the paper checks being sent to Americans have not been delayed by the addition of President Trump’s name to them.

“As Treasury has stated publicly, checks are being issued on time, as planned,” Frederick Vaughan with Treasury’s office legislative affairs wrote to the top members of the Senate Finance Committee in a letter released on Friday.

“Again, this decision has had no impact on the timing of issuance of these checks,” Mr. Vaughan said in a letter to Sen. Ron Wyden, the top Democrat on the finance committee.

Mr. Vaughan copied Senate Finance Committee Chairman Charles E. Grassley, Iowa Republican, on the note.

Treasury Secretary Steven T. Mnuchin has said it was his idea to put Mr. Trump’s name on the paper checks.

Some Democrats had cried foul amid reports that some of the paper checks might be delayed because of the addition of Mr. Trump’s name.