Another batch of $1,400 COVID-19 stimulus payments was sent out over the past two weeks, as the Internal Revenue Service continues to process 2020 tax returns and send additional funds to those eligible for more money.
The IRS sent out 1.8 million checks with a payment date of May 26, bringing the total amount spent on Economic Impact Payments to $391 billion. Nearly 167 million payments have gone out under the American Rescue Plan since it became law in March.
Half the payments sent out in the past two weeks went to individuals for whom the IRS previously did not have enough information to issue an Economic Impact Payment. The IRS was able to get the payments to them after they filed their tax returns.
The IRS has been encouraging those who do not usually file a return to do so so the agency can get a bank account number or address to send the payment to.
Plus-up payments accounted for some 900,000 of the payments sent out in the past two weeks. Plus-up payments are supplemental payments for people who already received checks based on their 2019 tax returns but are eligible for a larger payment based on their recently processed 2020 tax returns.
Those checks totaled more than $1.6 billion.
The IRS is reaching out to people who don’t normally file a tax return and who don’t receive federal benefits but may qualify for a stimulus payment. They are asking them to file a return or asking agencies that offer aid to make them aware they may be eligible for the money.
“This includes those experiencing homelessness, the rural poor, and others,” the agency said in a press release.
If you did not get a first or second round Economic Impact Payment or got less than the full amount, you may be eligible for the 2020 Recovery Rebate Credit. You will need to file a 2020 tax return to get those payments.
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