More ‘plus-up’ stimulus payments on the way

News

(WJW) — Even if you already received your third stimulus check, you may want to double check your bank account. The Internal Revenue Service (IRS) on Wednesday announced another batch of Economic Impact Payments — two million — are being sent out. Some people are also receiving what’s called “plus-up” payments.

The IRS says those are “additional ongoing supplemental payments” for people who earlier this year received payments based on their 2019 tax returns; however, they are eligible for a new or larger amount based on the 2020 tax returns they recently processed.

The new batch of payments included more than 700,000 of those “plus-up” payments, with a total value of more than a billion dollars, the IRS said.

Here is additional information from the IRS on the latest batch of payments:

  • In total, this batch includes nearly 2 million payments with a value of more than $3.4 billion.
  • More than 320,000 payments, with a total value of $450 million, went to Veterans Affairs (VA) beneficiaries who receive Compensation and Pension (C&P) benefit payments but who don’t normally file a tax return and didn’t use the Non-Filers tool last year.
  • Nearly 850,000 payments, with a total value of nearly $1.6 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. 
  • This batch also includes 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 recently processed 2020 tax returns. This batch included more than 700,000 of these “plus-up” payments, with a total value of more than $1.2 billion.
  • Another 72,000 payments went to Social Security beneficiaries who didn’t file a 2020 or 2019 tax return and didn’t use the Non-Filers tool last year.
  • Overall, this fifth batch of payments contains nearly 1.2 million direct deposit payments (with a total value of just under $2 billion) and nearly 800,000 paper check payments (with a total value of over $1.4 billion).

The IRS reminds those who don’t usually file a tax return to file a 2020 one to get benefits they may be entitled to including tax credits such as the 2020 Recovery Rebate Credit, and the Child Tax Credit.

You can check your stimulus status with the Get My Payment tool.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

FOX 8 Cleveland Weather // Quick Links:

Hot on FOX 8

More Viral