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More than two months after the start the $ 1,400 stimulus check submission process under the third round under the Biden Administration’s “American Bailout Plan”, the Internal Revenue Service (IRS) have processed at least 11 batches of corresponding payments.
The above means that the IRS has sent 11 rounds since last March 12 when the first batch corresponding to the third check was scheduled.
At the moment, the IRS is focused on distributing additional or “plus-up” payments to some taxpayers who were initially underpaid by third check and on the checks that would be sent to people who recently submitted tax returns. to the IRS.
In a statement last week on its website, the IRS claimed responsibility for sending some 167 million payments worth $ 391 billion.
The most recent shipments reported are for two weeks and include more than 1.8 million payments with a value of more than $ 3.5 billion.
The two groups the IRS targets for third stimulus check payment shipments
Most recent shipments or more than 900,000 payments, worth approximately $ 1.9 billion, went to eligible individuals for whom the IRS previously had no information to issue an Economic Impact Payment, but who recently filed a tax return.
About the same amount was directed to taxpayers to whom the IRS sent an incomplete amount based on the 2019 tax return, and then adjusted the payment amount upon receipt of the 2020 tax return.
“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.
These two groups will remain the IRS priority regarding shipments in the coming weeks.
IRS Summons Non-Filers and Stimulus Check Missing
In that sense, the entity called on Americans who are not required to file low income taxes to do so this year in order to process the stimulus payments that they have not received.
Although payments are automatic for most people, the IRS continues to urge people who normally do not file a tax return and have not received Economic Impact Payments to file a 2020 tax return for all the benefits to which they are entitled under the law, including tax credits such as the 2020 Refund Recovery Credit, the Child Tax Credit and the Earned Income Tax Credit, ”urged the IRS.
“Filing a 2020 tax return will also help the IRS determine if someone is eligible for an upfront payment of the 2021 Child Tax Credit, which will begin to roll out this summer,” the office noted.
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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.