Additional stimulus checks of $ 1,400 will be sent while the IRS is processing tax returns
William Thomas Cain | Getty Images
In a seventh batch of payments, around 2 million stimulus checks worth $ 1,400 were issued.
The total number that has been broadcast so far is now about 163 million, or about $ 384 billion.
This final round is worth more than $ 4.3 billion. It includes approximately 1.1 million direct deposits and approximately 850,000 checks.
The third installment of the Covid Stimulus Checks was approved by Congress in March through the American Rescue Plan Act.
More from Personal Finance:
Who could wait and be eligible for a $ 1,400 stimulus check?
Why some advocate a fourth stimulus payment
How Deferred Tax Savings Can Help You Get a $ 1,400 Stimulus Check
Payments are up to $ 1,400 per person plus $ 1,400 per dependent to Americans who meet certain income and other requirements.
As with previous Third Stimulus Check payouts, this batch includes money that has been spent on individuals whose tax returns have recently been processed by the IRS. This applies to both individuals who were not previously registered by the government, as well as individuals who are due additional “markup” payments due to their 2020 return.
Over 1.2 million payments, or more than $ 3 billion, were made to people the government did not previously have on file.
In addition, this new round included more than 730,000 “plus-up” payments, equivalent to more than $ 1.3 billion.
As soon as the IRS processes new returns, it sends additional surcharge payments if the previous stimulus checks were too small. For example, this could be because a person’s income has decreased since they returned in 2019, or because they added a qualified relative to their family.
Payments in full are made to individuals with gross adjusted income of up to $ 75,000, head of households up to $ 112,500, or married couples filing up to $ 150,000 together.
These checks are discounted for those with an income above these amounts. They fully expire at $ 80,000 for individuals, $ 120,000 for heads of household, or $ 160,000 for married couples.
If you have not yet received your $ 1,400 stimulus check or would like to request direct payment from previous rounds of up to $ 1,200 or $ 600 per person, the IRS urges you to do so Filing a tax return year.
This includes federal recipients who wish to submit information about eligible dependents, as well as the homeless.
If you’re making $ 72,000 or less, the IRS Free File program is free to file your tax return. The IRS has more information on their website on how to apply for your stimulus checks when you normally don’t have to file a tax return.
If you are a parent who has received incentive payments for your children and would like to share how you spent the money, send an email to [email protected]