IRS makes 156 million stimulus payments
The Internal Revenue Service sent out COVID-19 relief checks to more than 25 million Americans in the fourth round of payments made under President Joe Biden’s American Rescue Plan, the agency said Wednesday.
That brings the total disbursed payments from the latest stimulus package to more than 156 million payments, worth about $372 billion. The payments, which total up to $1,400 each per individual, were distributed mostly by direct deposits and paper checks.
The fourth batch of payments began processing on Friday, with an official payment date of April 7, with some people receiving direct payments in their accounts earlier as provisional or pending deposits, according to the IRS.
It included nearly 24 million payments via direct deposit, with a total value of over $33 billion. More than 1 million paper checks were also sent, totaling nearly $3 billion.
Who received the bulk of the checks?
The largest chunk of payments in the fourth round went to Social Security beneficiaries who didn’t file a 2020 or 2019 tax return and didn’t use the NonFilers tool last year, the IRS said.
More than 19 million payments, totaling more than $26 billion, went to these beneficiaries, including Social Security retirement, survivor or disability beneficiaries, according to the agency.
More than 3 million payments, worth nearly $5 billion, went to Supplemental Security Income beneficiaries. And nearly 85,000 payments, worth more than $119 million, went to Railroad Retirement Board beneficiaries.
What about VA beneficiaries?
Payments for VA beneficiaries who didn’t file a 2020 or 2019 tax return and didn’t use the Non-Filers tool last year will be disbursed on April 14, the IRS said.
“If no additional issues arise, the IRS expects to begin processing these VA payment files at the end of this week,” the agency said.
“Because the majority of these payments will be disbursed electronically, they would be received on the official payment date of April 14.”
IRS distributes more ‘plus-up’ payments
The fourth batch of payments also included more than 1 million “plus-up” payments worth more than $2 billion for people who were eligible for additional money now that their 2020 tax returns have been processed.
More than 1 million stimulus checks – approximately $3 billion – were issued to people who recently filed tax returns to get their payments because the government did not have them on record.
Payments for this group and the “plus-up” payments will continue on a weekly basis going forward, the IRS said, as the agency continues processing tax returns from 2020 and 2019.
How do I check the status of my payment?
Get updates on the status of your next stimulus payment using the IRS "Get My Payment" tool.
To use it, enter your full Social Security number or tax ID number, date of birth, street address and ZIP code.
But the Get My Payment tool won't be updated until this weekend with information for VA beneficiaries expecting payments next week, the agency said.
For those who are eligible, the tool will show a "Payment Status" of when the payment has been issued and the payment date for direct deposit or mail, according to the IRS's frequently asked questions.
The payments amount to $1,400 for a single person or $2,800 for a married couple filing jointly, plus an additional $1,400 for each dependent child.
Individuals earning up to $75,000 get the full payments, as do married couples with incomes up to $150,000. Payments decline for incomes above those thresholds, phasing out above $80,000 for individuals and $160,000 for married couples.