Bloomberg Tax
April 24, 2020, 5:40 PM

IRS Has Sent 88 Million Stimulus Checks Totaling $158 Billion

Laura Davison
Laura Davison
Bloomberg News

Almost 88 million Americans have received coronavirus aid payments worth nearly $158 billion, according to the U.S. Treasury Department and Internal Revenue Service.

That represents more than half of the stimulus payments of up to $1,200 for adults that the IRS will send out to bolster household budgets as unemployment numbers rise and businesses remain shut down. The IRS plans to send more than 150 million payments in total, which congressional scorekeepers estimate will total about $292 billion.

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