Home » Federal government sends out 2.2M more stimulus checks
Business

Federal government sends out 2.2M more stimulus checks

Federal government sends out 2.2M more stimulus checks

Over 2.2 million more stimulus checks have gone out in the past six weeks, the feds announced, bringing the total number of payments distributed as part of the third batch of checks to more than 171 million.

The latest round of 2.2 million checks is worth a value of more than $4 billion, the IRS, Treasury Department and Bureau of the Fiscal Service said in an announcement.

Of the 2.2 million, about 1.3 million, worth an estimated $2.6 billion, were sent to people for whom the IRS previously did not have information to issue a stimulus check but who recently filed a tax return, the federal agencies said

The batch also included supplemental payments for people who received payments based on their 2019 tax returns earlier this year, but were eligible for a new or larger amount based on their 2020 tax returns, the feds said.

There were more than 900,000 of these so-called “plus-up” payments sent out in the last six weeks, with a value of more than $1.6 billion, the government said.

In total, more than $400 billion have been sent out to Americans since the third batch of checks started going out on March 12, according to the government agencies.

The latest round of payments were authorized by the American Rescue Plan Act, which allotted up to $1,400 per person, plus $1,400 per eligible dependent, for people and families who fall under certain income thresholds and meet other requirements.

The IRS said it will continue to disburse payments on a weekly basis to those eligible.

The third round of payments is expected to reach 4 million Americans for a total of more than $10 billion.

Of the 4 million, 2 million are expected to receive the stimulus payment via paper check while the rest will get their money via direct deposit to their bank account.

Americans can track the status of their check via the Get My Payment tab on the IRS website.

About the author

mm

Julia Mangels

Julia has handled various businesses throughout her career and has a deep domain knowledge. She founded Stock Market Pioneer in an attempt to bring the latest news to its readers. She is glued to the stock market most of the times and just loves being in touch with the developments in the business world.

Add Comment

Click here to post a comment

Your email address will not be published. Required fields are marked *