It appears that the Internal Revenue Service and the Treasury Department are still busy sending out millions of coronavirus stimulus checks that are part of the eleventh batch of payments approved under President Joe Biden’s American Rescue Plan.
That particular tranche, released on June 9, included more than 2.3 million checks, lifting the total number disbursed to date to roughly one hundred sixty-nine million, representing a value of $395 billion.
According to the IRS, the latest estimates now suggest that about 90 percent of the $450 billion total earmarked for the third round of stimulus have been issued to eligible Americans.
For those who are still waiting patiently for the payments, know that out of the more than two million new checks worth more than $4.2 billion, about 1.1 million of them were sent out as paper checks or prepaid debit cards. Therefore, depending on how fast the local United States Postal Service is, it is best to wait a few more days before taking any action.
Be aware that there have been plenty of reports of people still waiting for the so-called “plus-up” or supplemental checks as well. The latest batch, though, boasted 1.1 million of these payments.
These top-off funds are for taxpayers “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.”
For example, “these ‘plus-up’ payments could include a situation where a person’s income dropped in 2020 compared to 2019, or a person had a new child or dependent on their 2020 tax return, and other situations,” the IRS said, adding that these payments will continue to roll out on a weekly basis throughout the summer.
In all, the tax agency has made more than eight million such payments so far this year.
Take note that the eleventh batch also featured more than nine hundred thousand checks that targeted recent tax filers who previously did not have the necessary information on file at the IRS.
The agency noted that “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. Filing a 2020 tax return will also assist the IRS in determining whether someone is eligible for an advance payment of the 2021 Child Tax Credit, which will begin to be disbursed (July 15).”
Eligible parents should be on the lookout for two letters that have been mailed out by the IRS. The first letter went out to those who may be eligible to receive the monthly credit payments, and the second, more personalized letter will state the estimated amount of their monthly checks.
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.