SAN FRANCISCO, Calif. (KRON) – For the third stimulus payment, the Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced on Wednesday that more payments are being delivered.
In the fifth round of payments, nearly 2-million more checks are being disbursed as part of the Economic Impact Payments from the American Rescue Plan — So far, about 159 million payments have been disbursed, which is more than $376 billion.
Americans began receiving these payments on March 12.
This set of payments started being processed on April 9 with an expected payment date of April 14. Some got a direct deposit payment into their accounts.
The IRS and Treasury released more details about these payments:
- It includes nearly 2 million payments with a value of more than $3.4 billion.
- More than 320,000 payments, with a total value of $450 million, went to Veterans Affairs (VA) beneficiaries who receive Compensation and Pension (C&P) benefit payments but who don’t normally file a tax return and didn’t use the Non-Filers tool last year.
- Nearly 850,000 payments, with a total value of nearly $1.6 billion, went to eligible individuals for whom the IRS previously did not have information to issue an Economic Impact Payment but who recently filed a tax return.
- This batch also includes additional ongoing supplemental payments for people who earlier this year 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. This batch included more than 700,000 of these “plus-up” payments, with a total value of more than $1.2 billion.
- Another 72,000 payments went to Social Security beneficiaries who didn’t file a 2020 or 2019 tax return and didn’t use the Non-Filers tool last year.
- Overall, this fifth batch of payments contains nearly 1.2 million direct deposit payments (with a total value of just under $2 billion) and nearly 800,000 paper check payments (with a total value of over $1.4 billion).
According to the press release, “Over 95% of all Social Security beneficiaries have been paid electronically during this round of payments, compared to 70% in the first round and 72% in the second round.”
Economic Impact Payments will continue to be made weekly. If the IRS did not previously have an individuals information to send a payment, ongoing payments will be distributed.
For those who don’t normally file a tax return, CLICK HERE for more information.
CLICK HERE to check the Get My Payment tool for the status of these payments.
Any additional resources can be found HERE.