The IRS just announced nearly 2 million more payments are being sent out. They are the seventh batch of Economic Impact Payments from the American Rescue Plan.
That brings the total sent so far to about 163 million payments since they began rolling out in March.
The IRS says some people will receive direct payments in their accounts, while others will be mailed.
Here’s a breakdown of who this latest round includes:
- In total, this batch includes nearly 2 million payments with a value of more than $4.3 billion.
- More than 1.2 million payments, with a value of over $3 billion, went to eligible individuals for whom the IRS previously did not have information to issue an Economic Impact Payment but who recently filed a tax return.
- This batch also includes additional ongoing supplemental payments for people who, earlier this year, received payments based on their 2019 tax returns but are eligible for a new or larger payment based on their recently processed 2020 tax returns. This batch included more than 730,000 of these “plus-up” payments, with a value of over $1.3 billion.
- Overall, this seventh batch of payments contains about 1.1 million direct deposit payments (with a total value of $2.5 billion) and about 850,000 paper check payments (with a total value of more than $1.8 billion).
The IRS continues to urge people who don’t normally file a tax return to do so. Filing a 2020 tax return will allow taxpayers to get all the benefits entitled to them. That includes things such as the 2020 Recovery Rebate Credit, the Child Tax Credit, and the Earned Income Tax Credit.
It will also help in determining whether a person is eligible for an advance payment of the 2021 Child Tax Credit. Those will begin to be sent out this summer.
Individuals can use the Get My Payment tool on the IRS website to check the status of their stimulus or plus-up payments.
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