One other 2.2 million further stimulus checks are out
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In the past six weeks, around 2.2 million more economic checks have been issued, the government said on Wednesday.
The latest batch brings the total number of payments disbursed to more than 171 million with a total value of $ 400 billion, according to announcements from the IRS, the Treasury Department and the Bureau of the Fiscal Service. These payments began in March when President Joe Biden’s American Rescue Plan Act came into effect.
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This legislation allowed payments of up to $ 1,400 per person plus $ 1,400 per eligible relative for individuals and families who fall below certain income limits and meet other requirements.
For the latest tranche, approximately 1.3 million of the payments – valued at approximately $ 2.6 billion – were sent to eligible individuals who were previously unaware of the IRS ‘business review information but who recently filed a tax return .
This batch also includes additional payments for people who received payments based on their 2019 tax returns earlier this year but were eligible for a new or higher amount based on their 2020 tax returns that would have recently been processed.
The IRS said it would continue to pay out these stimulus checks on a weekly basis.