Stimulus Check Update: Millions More Could Be Sent Out This Week

New Stimulus Payment Out
June 14, 2021 Topic: Stimulus Check Update Region: Americas Blog Brand: The Buzz Tags: Stimulus CheckEconomyIRSTaxesJoe Biden

Stimulus Check Update: Millions More Could Be Sent Out This Week

The IRS also has continued to remind Americans to check their eligibility for the current stimulus, as the income levels for this third round have somewhat changed. 

It is true that the Internal Revenue Service and the Treasury Department are in the final stages of disbursing the remaining $1,400 coronavirus stimulus checks under President Joe Biden’s American Rescue Plan.

But with roughly 10 percent of the payments yet to be sent out, there appears to be several more batches that cash-hungry Americans can look forward to—and that could come as soon as this week as the twelfth batch seems primed to be deployed to eligible bank accounts and mailboxes.

Keep in mind that it was just last week when the IRS confirmed that about 2.3 million more stimulus checks were disbursed as part of the long-awaited eleventh batch. That tranche lifted the total number of checks sent out to date to approximately one hundred sixty-nine million worth $395 billion.

Of the newest direct payments, more than 1.2 million were issued via direct deposit, while the remainder were delivered via USPS as paper checks or prepaid debit cards. For those expecting their funds to be physically delivered, the best course of action is to wait at least another week.  

Once again, the IRS has made headway in getting the so-called “plus-up” or supplemental checks into the hands of eligible Americans—as the latest batch boasted 1.1 million of them. In all, according to the agency, about eight million such payments have been made this year. 

Take note that these checks are for U.S. taxpayers “who earlier in March received payments based on their 2019 tax returns but are eligible for a new or larger payment based on their recently processed 2020 tax returns,” the IRS noted.  

Also, be aware that about nine hundred thousand checks targeted recent tax filers who previously did not have the necessary information on file at the agency. For those non-filers out there, it has been suggested that they make time to apply for an extension and file by the Oct. 15 deadline.  

“Although payments are automatic for most people, the IRS continues to urge people who don’t normally file a tax return and haven’t received Economic Impact Payments to file a 2020 tax return to get all the benefits they’re entitled to under the law, including tax credits such as the 2020 Recovery Rebate Credit, the Child Tax Credit, and the Earned Income Tax Credit,” the IRS stated.  

“Filing a 2020 tax return will also assist the IRS in determining whether someone is eligible for an advance payment of the 2021 Child Tax Credit, which will begin to be disbursed this summer,” it added.  

The IRS also has continued to remind Americans to check their eligibility for the current stimulus, as the income levels for this third round have somewhat changed. Individuals who earn as much as $75,000 in adjusted gross income, or couples making $150,000, qualify for the full $1,400, but an individual with an income of $80,000, or a couple with $160,000, will receive nothing.  

Ethen Kim Lieser is a Minneapolis-based Science and Tech Editor who has held posts at Google, The Korea Herald, Lincoln Journal Star, AsianWeek, and Arirang TV. Follow or contact him on LinkedIn.  

Image: Reuters