The IRS continues to work on processing payments as part of the third round of stimulus checks.
Photo: Chip Somodevilla / Getty Images
The Internal Revenue Service (IRS) will continue for the next few weeks to process $ 1,400 stimulus checks from round three almost a month after starting the shipping process.
Although the agency has not specified the date on which it expects to complete the shipments, the “American Rescue Plan” establishes December 31 as the last day for the IRS in coordination with the Treasury Department to distribute all of the so-called ” Economic Impact Payments ”.
This week, the agency released millions of direct deposits to bank accounts and “Direct Express” cardholders that receive benefits from government programs such as those of the Social Security Administration (SSA) and the Railroad Retirement Board (RRB).
At the same time, the entity processed more than 1 million paper checks that would be sent by post.
In a statement detailing the sending of more than 25 million payments this week, the IRS announced that it expects to begin processing new payments tomorrow, Friday, April 9, for people who receive funds from the Veterans Administration (VA ), which covers veterans and beneficiaries who receive Compensation and Pension (C&P) payments.
These checks would be reaching the beneficiaries as of next week. On Wednesday, April 14, electronic fund transfers would be available to many of the recipients.
Following this batch of payments, the IRS will proceed with the distribution to recipients of the $ 1,400 stimulus check who do not reside in the United States or have a foreign mailing address. This process will last at least until the end of this month.
At the same time, the agency will continue to send additional payments to people who received a lower initial payment in early March than their due because the agency made a first calculation based on the 2019 tax returns.
According to IRS statistics, some 156 million third-round stimulus payments have already been sent from the entity, worth approximately $ 372 billion.
The first money deposits with the check for $ 1,400 were reported on March 12, with an official payment date of March 17.