The Internal Revenue Service said it would begin sending out more than 130 million economic stimulus payments in weekly installments starting May 2, with the distribution schedule based on the last two digits of the recipient's Social Security number.

The initial recipients will be those whose Social Security numbers end between 00 and 20, and who have elected to receive their tax refunds by direct deposit. For those who don't use direct deposit, paper checks will be sent starting May 16.

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