Approximately $388B in stimulus payments have been sent so far, about 86% of the $450 billion earmarked for stimulus payments. More than 500K payments were sent to people who previously didn't have info on file at the IRS but recently filed a tax return
Nearly 1 million more stimulus checks were disbursed this week in the latest batch of payments, according to the IRS, bringing the total number of payments in the third round to 165 million.
·7 min readNearly 1 million more stimulus checks were disbursed this week in the latest batch of payments, according to the Internal Revenue Service, bringing thetotal number of payments in the third round to 165 million, including add-on payments for past stimulus checks.
Approximately $388 billion in stimulus payments have been sent so far, about 86% of the $450 billion earmarked for stimulus payments, the IRS said in apress releaseon Wednesday.More than 500,000 payments were sent to people who previously didn't have information on file at the IRS but recently filed a tax return.
The ninth batch of payments also included more than 460,000 "plus-up" payments for people who had their third stimulus check calculated based on their 2019 tax return, but are now eligible for a bigger payment. This could be the case for people whose 2020 income was lower than their 2019 income or who had a baby or a dependent added to their 2020 return that qualified them for a larger payment. headtopics.com
Stimulus Check: USA government check, payment. Photo: Getty CreativeAbout 500,000 of the payments were directly deposited into Americans' bank accounts, while the remainder of the payments were mailed as paper checks or prepaid debit cards.The IRS will continue distributing the payments on a weekly basis. Future payments will go to individuals who previously didn't have their information on file with the IRS but have filed a return along with people who qualify for the "plus-up" payments.
This round is $1,400 per eligible individual plus a $1,400 bonus per dependent. Around 158.5 million households are expected to receive the third payment under the new stimulus deal, a tally that doesn't include plus-up payments, according to the White House.
Here’s what else you need to know about the third round of stimulus checks.Who gets a stimulus check?The third round of direct payments includes $1,400 per eligible individual plus a $1,400 bonus per dependent. Around 158.5 million households are expected to receive a payment.
Story continuesA single filer making up to $75,000 will receive the full payment, while those earning up to $80,000 will get a reduced amount. Joint filers making up to $150,000 will get the full $2,800, while those earning up to $160,000 will receive a smaller amount. Previously, the phase-out thresholds were $100,000 for single filers and $200,000 for joint filers in the House version. headtopics.com
Read more:Here's what's in Joe Biden's $1.9 trillion 'rescue plan' that could help your walletEligibility will be based on your most recent tax return and your adjusted gross income. For the third round of checks, the IRS will use your 2019 or 2020 tax return to determine if you qualify for the direct payment.
Social Security beneficiaries, Disability Insurance beneficiaries, Supplemental Security Income recipients, Railroad Retirement Board beneficiaries, and Veterans Administration beneficiaries all are eligible for the payment even if they didn’t file a 2019 or 2020 tax return.
Eligible taxpayers who used the IRS Non-Filer tool for the first round of checks will be treated as providing returns and will also receive payments.Additionally, Americans who qualify for the stimulus payment and have dependents will get an additional $1,400 per dependent. The bonus can be claimed for college students, disabled adults, and other adults who are dependents. Previously, parents or guardians could only claim the bonus for child dependents under 17.
Deceased people may also receive a payment. Checks will go to all eligible taxpayers who were alive as of Jan. 1, 2021.Who doesn't get a check?Those without a Social Security number andnonresident aliens— those who aren’t U.S. citizens or U.S. nationals and don’t have a green card or have not passed the substantial presence test — are not eligible for the direct payment. headtopics.com
Married taxpayers who file jointly where one spouse has a Social Security number and the other doesn’t will get one $1,400 payment, in addition to $1,400 for any child with a Social Security number.Taxpayers with Individual Taxpayer Identification Numbers (ITIN) aren't eligible for the payments.
US President Joe Biden, with Vice President Kamala Harris, prepares to sign the American Rescue Plan on March 11, 2021, in the Oval Office of the White House in Washington, DC. (Photo by MANDEL NGAN/AFP via Getty Images)How will the government send you the stimulus check?
The IRS will use the direct deposit information you provided from the taxes you’ve filed for 2019 or 2020.You may be able to use the IRS’Non-Filerstool to provide your information like the first round. But so far, the IRS has not announced whether that tool will be available if this stimulus bill is passed.
The tool was for eligible U.S. citizens or permanent residents who had gross income below $12,200 ($24,400 for married couples) for 2019 and weren’t required to file a 2019 federal tax return.If you have no direct deposit information on file or if the account provided is now closed, the IRS will mail you a check or pre-paid debit card instead.
If you received no payment and you think you’re eligible or you got the wrong amount, you’ll be able to claim it on your 2021 tax return.How can I track my payment?Americans can now check the status of their third stimulus check using the IRS’s online tracking tool ‘
Get My Payment.’The tool allows Americans to follow the scheduled payment date for either a direct deposit or mailed payment. It’s an online app that works on desktops, phones, and tablets and doesn’t need to be downloaded from an app store. To use the tool, you need to provide basic information:
Social Security number or Individual Tax ID Number (ITIN)Date of birthMailing address Read more: Yahoo News »
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