Connect with us

Hi, what are you looking for?

Trillions

Stimulus Check Update: More $1,400 Payments Ready to Be Issued Next Week?

Joe Biden on the Campaign Trail
Town Hall at International Longshoreman's Association Hall - Charleston, SC - July 7, 2019.

Cash-strapped Americans were hoping to see that the next batch of coronavirus stimulus checks under President Joe Biden’s American Rescue Plan would be released this week.

It appears that won’t happen but there is growing optimism that the twelfth and perhaps even the thirteenth batch will be heading out to eligible Americans as early as the weekend ends.

After the disbursement of the eleventh batch last week, the IRS’ latest estimates suggest that approximately 10 percent of the $1,400 stimulus payments have yet to be sent out. That tranche included 2.3 million more checks, boosting the total number of payments sent out to date to one hundred sixty-nine million worth $395 billion.

Do take note that similar to the previous recent batches, about nine hundred thousand checks went out to recent tax filers who previously did not have the necessary information on file at the agency.

According to the IRS, “although payments are automatic for most people, the IRS continues to urge people who don’t normally file a tax return and haven’t received Economic Impact Payments to file a 2020 tax return to get all the 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.”

The agency has suggested that non-filers should apply for an extension and file by the October 15 tax deadline.

The so-called “plus-up” or supplemental checks are continuing to head out in large numbers as well. Know that these particular payments are for those “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 agency writes, adding that roughly eight million such checks have been issued this year.

Also, keep in mind that there is still plenty of chatter regarding a fourth stimulus check in Washington and among ordinary citizens. During a recent briefing, White House Press Secretary Jen Psaki told reporters that “(President Biden) is happy to hear from a range of ideas on what would be most effective and what’s most important to the economy moving forward.”

There is also a Change.org petition, which has already garnered nearly 2.4 million signatures, that’s demanding recurring $2,000 monthly checks until the pandemic ends.

“Our country is still deeply struggling. The recovery hasn’t reached many Americans—the true unemployment rate for low-wage workers is estimated at over 20 percent and many people face large debts from last year for things like utilities, rent and child care,” the petition states.

“For our team and other Americans who can claim unemployment, even the maximum payments will not be enough for most people to continue paying their bills—and avoid slipping into poverty. … But supplying Americans with monthly support until they can get back on their feet can save our communities from financial ruin,” it continues.

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.

Written By

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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement