More Than 2.3 Million New Stimulus Checks Have Been Sent. Here’s Who Will Get The Money
A new set of stimulus checks for up to $1,400 per person has been sent, the government announced on Wednesday. More than 2.3 million payments, representing over $4.2 billion, is on its way to select Americans. The figure includes “plus-up” payments to people who are due new or additional money now that their 2020 tax returns have been processed.
More than 2.3 million new stimulus checks have been sent, representing over $4.2 billion in payments to Americans, the government announced on Wednesday.
In total, more than 169 million payments worth about $395 billion have been issued since Congress passed the American Rescue Plan Act in March.
That legislation authorized payments of up to $1,400 per person, plus $1,400 per eligible dependent, for individuals and families who fall under certain income thresholds and also meet other requirements.
In this round, 1.1 million of the new checks — with a value of more than $2.5 billion — were “plus-up” payments. That includes new or larger payments due to individuals and families after their 2020 tax returns have been processed. To date, more than 8 million of these payments have been sent.
Additionally, more than 900,000 checks — worth about $1.9 billion — went to individuals who recently filed their tax returns with the IRS, but did not previously have their information on record.
This latest round of payments includes more than 1.2 million direct deposit payments, while the rest were sent via paper checks.
What to do if you’re still missing a payment
If you have not received your $1,400 stimulus check — or the previous two $1,200 or $600 checks — you can still claim the money by filing a federal tax return.
Your 2020 tax return will also show whether your income dropped since you last filed in 2019, or if you have added a dependent, which could make you eligible for additional funds.
The IRS continues to issue checks each week, including “plus-up” payments to those people whose previous checks fell short and new payments to people it did not previously have on record.
A section for the recovery rebate credit – line 30 of Forms 1040 or 1040-SR and a worksheet – has also been added to this year’s return to help people claim any missing money from the first $1,200 or second $600 federal stimulus checks.
People who do not normally file tax returns, including the homeless and rural poor, are encouraged to do so this year in order to get their stimulus checks.
Filing a tax return will also help the IRS assess whether you may be eligible for additional funds through the earned income or child tax credits. Notably, monthly payments tied to the enhanced child tax credit are set to start going out this summer.
Filers who are below certain income thresholds may be eligible for free tax preparation services provided through the IRS.
– CNBC