WASHINGTON (NewsNation Now) — The seventh batch of Economic Impact Payments from the American Rescue Plan is being disbursed, The Internal Revenue Service announced Wednesday.
This batch includes “nearly 2 million payments with a value of more than $4.3 billion,” the IRS said. This brings the total sent so far to 163 million payments since they began rolling out in March.
According to the IRS, some people will receive direct payments in their bank accounts, while others will be mailed.
The IRS also provided these details about this round of stimulus payments:
- More than 1.2 million payments, with a value of over $3 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 730,000 of these “plus-up” payments, with a value of over $1.3 billion.
- Overall, this seventh batch of payments contains about 1.1 million direct deposit payments (with a total value of $2.5 billion) and about 850,000 paper check payments (with a total value of more than $1.8 billion).
Although payments are automatic for most people, the IRS continues to urge people who don’t usually file a tax return. Filing a 2020 tax return allows taxpayers to receive “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.”
It’ll also help determine whether a person is eligible for an advance payment of the 2021 Child Tax Credit; those will begin to be distributed this summer.
Individuals can check the Get My Payment tool on the IRS website to see the status of their stimulus or plus-up payments.
