Different variables could affect the amount of money you will receive for the third stimulus check.
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The Internal Revenue Service (IRS) confirmed this Wednesday the sending more “plus-up” payments or additional payments as well as total payments to those who recently filed a tax return with the agency as part of the third round of $ 1,400 stimulus checks.
IRS has already sent out about 165 million third stimulus check payments
Today’s announcement (Wednesday) brings the total disbursed so far to approximately 165 million payments, with a total value of approximately $ 388 billion, since these payments began to be distributed to Americans in batches as announced on March 12. ”The IRS specified in a press entry on its website.
This week’s shipments began processing on Friday, May 7, with official payment date May 12, that is yesterday.
The official payment date refers to the day on which direct deposit recipients can freely use the money.
Prior to that date, beneficiaries whose funds were deposited to bank accounts viewed payments as provisional or pending. In addition, the IRS mails hundreds of paper check payments to those who did not provide direct deposit information to the agency.
The exact arrival date of the checks in the mail has not been specified by the IRS.
However, in a notice corresponding to the second round of payments, the agency clarified that since the IRS releases the paper check until it reaches the mailbox by the United States Postal Service (USPS) the process could take between three and four weeks.
Shipments of the $ 1,400 payments under the “American Rescue Plan” began processing on March 12. To this date, the agency has already processed nine batches of shipments.
Ninth batch of payments for third stimulus check nearly reaches 1 million shipments
In the case of the most recent batch, the tax office specified that it consists of about 960,000 payments with a value of more than $ 1.8 billion.
“More than 500,000 payments, worth more than a billion, went to eligible individuals for whom the IRS previously had no information to issue an economic impact payment, but who recently filed a tax return,” the agency added about the scope of recent shipment.
This lot also impacted with “plus-up” or supplemental payments to people who earlier this year received payments based on their 2019 tax returns, but are eligible for a new or higher payment based on their income tax returns. 2020 recently processed.
“This lot included more than 460,000 of these“ plus-up ”payments, with a value of more than $ 800 million. Overall, the IRS has made more than six million of these supplemental payments this year, ”the agency said.
Most of the payments for this lot or 500,000 were processed by direct deposit, while the rest were issued as paper payments.