The IRS announced June 9 that over 2.3 million checks were being mailed out as part of President Joe Biden’s $1.9 trillion American Rescue Plan.
Yahoo Finance reports that based on the IRS’ recent schedule of updates, the announcement on the newest batch could be made late Wednesday. It has also said new batches are continually being mailed out every week regardless of an official announcement.
- A total of over 2.3 million payments with a value of more than $4.2 billion.
- More than 900,000 Economic Impact Payments — valued at about $1.9 billion — went to eligible individuals for whom the IRS previously had no information to issue a payment but who recently filed a tax return.
- Additional ongoing supplemental payments for people who earlier this year received payments based on their 2019 tax returns but are eligible for a new or larger payment based on their 2020 tax returns. In the last two weeks, there were more than 1.1 million of these “plus-up” payments, valued at over $2.5 billion. In all, the IRS has made more than 8 million plus-up payments this year.
The government has issued three direct payments since the beginning of the coronavirus pandemic. About a year ago, the government sent $1,200 stimulus checks to most Americans through the CARES Act. In late 2020, the government approved payments of $600 per person. That was followed up by the third stimulus payment of $1,400.
Individuals earning up to $75,000 and married couples making up to $150,000 receive the full amount. The payments gradually decrease from there and are phased out entirely for individuals and married couples with incomes of more than $80,000 and $160,000 respectively.
If you would like to know when your Stimulus Check is scheduled to arrive, visit Get My Payment.