The new batch of $ 1,400 worth of stimulus checks includes premium payments to those eligible for more cash
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A third batch of $ 1,400 worth of stimulus checks was sent. This time it includes “surcharges” for people who are entitled to more money after processing their 2020 tax returns.
The latest payments bring the total number of checks issued to more than 130 million, which is roughly $ 335 billion, according to the IRS.
The third batch included more than 4 million payments valued at more than $ 10 billion. These payments had an official payment date of March 31, but could have been received earlier, according to the tax authorities.
The new stimulus checks were approved by Congress last month through the American Rescue Plan Act. They include payments of $ 1,400 per person plus $ 1,400 per dependent, provided recipients meet certain income thresholds and other eligibility rules.
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The recipients of this latest batch have included those who are entitled to additional cash or “markup” payments.
This includes those who received a stimulus check based on their 2019 tax returns but are entitled to more money after processing their 2020 tax returns. Examples of situations that could lead to eligibility for markup payments include a decrease in income in 2020 compared to 2019, or the addition of a new dependent, according to the IRS.
The checks were also made out to people who recently filed tax returns to qualify for the stimulus money because the information from the IRS was not on file.
Both the markup payments and the checks to those whose information was previously unknown will continue weekly, according to the IRS.
Prior to this third set of payments, the IRS would send checks to people who either filed tax returns for 2019 or 2020 or submitted their information to the IRS online last year using the non-filer tool.
Further payments are also in progress to federal beneficiaries who did not file tax returns in 2019 or 2020 or who used the IRS’s non-filer tool in the past year. This includes social security, supplementary income and railroad pension recipients. The IRS began making payments to these people over the weekend. Most payments are officially due to be received by direct deposit on April 7th.
The IRS continues to work to obtain stimulus checks for Veterans Affairs beneficiaries. Individuals receiving VA benefits who typically fail to file tax returns could receive their payments by mid-April, according to estimates by the IRS.
While most people don’t have to do anything to get a stimulus check, the IRS urges some people to file a tax return in order to get the money they are entitled to.
This includes federal recipients who are required to provide information about dependents who may qualify for the money.
This includes people who normally fail to file tax returns or receive federal benefits, such as the homeless or rural poor.
Resources on how to file free tax returns can be found on the IRS website. The IRS offers free sign up options for those earning $ 72,000 or less. In addition, free electronic forms are available for those with incomes over $ 72,000.
Filing a 2020 tax return will also allow people to claim a refund credit if they missed previous $ 1,200 or $ 600 stimulus checks.
In addition, users can check the status of their payment using the IRS Get My Payment tool.