IRS Announces Sending 2.2 Million Third Stimulus Check Payments

IRS Announces Sending 2.2 Million Third Stimulus Check Payments

IRS Announces Sending 2.2 Million Third Stimulus Check Payments

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The Internal Revenue Service (IRS) reported the sending of 2.2 million payments for the third stimulus check so far in July.

In a statement on Wednesday, the agency detailed that the payments processed up to that date equal to about $ 4 billion.

Most of the deliveries were to people who recently filed a tax return with the IRS so the agency could process the funds.

“Nearly 1.3 million payments, with a value of approximately $ 2.6 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“, Specified the entity.

IRS processes more “plus-up” payments

The most recent batches also impacted Americans who earlier this year received payments based on their 2019 tax returns, but were eligible for a new or higher payment as a result of recently processed 2020 tax returns.

“In the last four weeks, there were more than 900,000 of these additional“ plus-up ”payments, with a value of more than $ 1.6 billion. In total, the IRS has made more than 9 million of these supplemental payments this year for a total of approximately $ 18.5 billion ”, indicated the IRS in the press entry.

780,000 payments were processed through direct deposit and the rest as a paper check by post.

Nearly 172 million third stimulus check payments disbursed so far

With these latest installments, the IRS in coordination with the Treasury Department has disbursed nearly 172 million payments for a total value of $ 400 billion since the distribution of the third stimulus check began on March 12.

The office advised that it has not yet completed the shipments of these payments, and that it will continue to process them on a weekly basis.

Third stimulus check shipments will continue weekly

“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 did not have information to issue a payment but who recently filed a tax return, as well as to individuals who qualify for additional “plus-up” payments, the agency recalled.

Low-income Americans must file taxes with the IRS

In that sense, the IRS instructed Americans who are not required to file low income taxes to do so as soon as possible in order to process the payment or stimulus payments from past rounds that correspond to them.

“Although payments are automatic for most people, the IRS continues to urge people who do not normally file a tax return and have not received economic impact payments to file a 2020 tax return to obtain all the benefits to which they are entitled under the law and which include tax credits such as the Refund Recovery Credit 2020, the Child Tax Credit and the Earned Income Tax Credit. Filing a 2020 tax return will also help the IRS determine if someone is eligible for an upfront payment of the 2021 Child Tax Credit, which will begin to roll out this summer, ”explained the Internal Revenue Service.

Individuals also have the option of using the online Non-filer Sign-up tool to request payment or payments due.

Through the service you can also request advance payments of the “Child Tax Credit” that the office began to send on July 15.

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