Stimulus update: 2 million more payments sent, 700,000 ‘plus’ checks to people owed more money – oregonlive.com

The latest batch of stimulus payments includes more than 2 million checks, with 700,000 “plus-up” checks for people owed more money.

So far, the IRS has distributed 161 million payments with a total value of $379 billion since processing began on March 12. The stimulus, part of President Joe Biden’s American Rescue Plan, includes up to $1,400 for individuals and dependents and $2,800 for married couples.

The latest batch of payments began processing on Friday, April 16, with an official payment date of April 21, with some people receiving direct payments in their accounts earlier as provisional or pending deposits.

Of this latest round, 700,000 checks with a value of more than $1.3 billion went to eligible individuals for whom the IRS previously did not have information to issue an Economic Impact Payment – the official name of the stimulus – but who recently filed a tax return. This batch also includes additional payments for people who earlier this year received payments based on their 2019 tax returns but are eligible for a new or larger check based on their recently processed 2020 tax returns. This batch included nearly 700,000 of these “plus-up” payments, with a value of nearly $1.2 billion.

Another 600,000 payments went to Social Security beneficiaries and Supplemental Security Income recipients, including those with foreign addresses.

The IRS will continue to make Economic Impact Payments on a weekly basis. Ongoing payments will be sent to eligible individuals for whom the IRS previously did not have information to issue a payment but who recently filed a tax return, as people who qualify for “plus-up” payments.

Individuals can check the Get My Payment tool on IRS.gov to see the payment status of these payments.

Read More…

Share and Enjoy !

0Shares
0 0
0Shares
0 0