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During the next week beginning May 31, Americans who recently filed taxes with the Internal Revenue Service as well as those who received an initial payment based on the 2019 tax return would receive payments by third stimulus check.
The agency continues to process weekly payments for the third round of checks arranged under the “American Bailout Plan” for certain groups of beneficiaries.
It should be noted that because it is the holiday weekend for Memorial Day there could be delays in the arrival of payments. Usually the official payment date is Wednesday. Every Wednesday morning, Nacha and the banks release direct deposits for payments scheduled from Friday of the previous week. At the same time, the IRS sends paper checks to taxpayers who did not provide their bank information for electronic transfer to the IRS.
The most recent statement from the IRS on its website regarding the status of the shipping process was shared this Wednesday, May 26.
IRS processed more than 1.8 million additional third round payments in two weeks
The entry specifies that in the last two weeks, the agency processed more than 1.8 million additional payments from the third round, increasing the total disbursed so far to almost 167 million payments. The first shipments of the third stimulus check were scheduled for March 12, the day after President Joe Biden signed the stimulus bill.
The most recent batches total more than $ 3.5 billion in funding.
Payments “plus-up” and others
“More than 900,000 payments, worth approximately $ 1.9 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.
The latest batches also include supplemental “plus-up” payments for people who received checks earlier this year based on their 2019 tax returns, but are eligible to receive more money based on their processed 2020 tax returns. Recently. “In the last two weeks, there were more than 900,000 of these additional payments, worth more than $ 1.6 billion. In total, the IRS has made almost 7 million of these supplemental payments this year, ”the agency said.
IRS will continue to issue third stimulus check payments weekly
The IRS indicated that it will continue to make Economic Impact Payments weekly for Americans in the two groups mentioned.
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Eddie is an Australian news reporter with over 9 years in the industry and has published on Forbes and tech crunch.