$1,400 Stimulus Check Update: Payments Continue to Hit Bank Accounts

$1,400 Stimulus Check Update: Payments Continue to Hit Bank Accounts

“The IRS continues to send the third round of stimulus payments in record time,” IRS Commissioner Chuck Rettig said in a statement. “Since this new set of payments will include more mailed payments, we urge people to carefully watch their mail for a check or debit card in the coming weeks.” 

 

Over the past month, the Internal Revenue Service and U.S. Treasury have worked tirelessly to disburse nearly one hundred sixty million coronavirus stimulus checks to cash-strapped taxpayers under the $1.9 trillion American Rescue Plan.

The agencies, however, still have much more work to do, considering that many Social Security and Veterans Affairs beneficiaries are only receiving their stimulus payments this week.

 

“The IRS continues to send the third round of stimulus payments in record time,” IRS Commissioner Chuck Rettig said in a statement. “Since this new set of payments will include more mailed payments, we urge people to carefully watch their mail for a check or debit card in the coming weeks.” 

According to the IRS’ latest update, more than twenty-five million stimulus checks worth $36 billion have been sent out as part of the fourth batch. In all, about 85 percent of stimulus funds sent so far have been direct deposited in bank accounts, the IRS said.

Be aware that what’s notable about this particular batch is that it is the first one that includes “plus-up” or supplemental payments for those who only received partial $1,400 payments on an earlier date.

“This batch includes the first of ongoing supplemental payments for people 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 said in a statement. “These ‘plus-up’ payments could include a situation where a person’s income dropped in 2020 compared to 2019, or a person had a new child or dependent on their 2020 tax return, and other situations.”

Payments were also issued to those who recently filed tax returns in order to qualify for the stimulus money, due to the fact that the IRS did not have their necessary information on record.

As for when most Americans can see these additional checks, the IRS has acknowledged that the latest batch includes more than one million supplemental payments worth more than $2 billion. These checks will continue to go out on a weekly basis going forward, according to the IRS, as the agency continues to process tax returns from 2020 and 2019.

Do take note that fewer Americans will receive checks this time around, so make sure to confirm that the income thresholds are met. After confirming eligibility, head over to the IRS “Get My Payment” tool at here

Be aware, though, that some individuals will receive a message that says, “Payment Status Not Available.” “If you get this message, either we have not yet processed your payment, or you are not eligible for a payment,” the IRS says. “We will continue to send the 2021 Economic Impact Payment to eligible individuals throughout 2021.”

Since eligibility for the stimulus checks already has been verified, most likely these individuals will have to be patient and wait a few more days for the direct deposit or a couple of weeks for the post office to deliver a physical check or a prepaid debit card.

 

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.