IRS Sends Out Another Batch of $1.4k Stimulus Checks

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Federal authorities announced Wednesday that a new round of $1,400 stimulus checks have been sent out, bringing the total figure disbursed to around $391 billion.

The Department of the Treasury, the Internal Revenue Service (IRS), and the Bureau of the Fiscal Service jointly announced that the most recent tranche of payments amounts to more than 1.8 million checks worth over $3.5 billion. Over 900,000 payments were made as direct deposit, while the remainder was sent out as paper checks.

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About half the checks were “supplemental” or “plus-up” payments, going to people who earlier received payments based on their 2019 tax returns but after filing a 2020 return are eligible to receive more money.

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The $1.9 trillion American Rescue Plan authorizes individuals earning less than $75,000 per year—and married joint filers making less than $150,000—to receive the full $1,400 payment. The checks then ramp down to zero for individuals earning $80,000 or above and for joint filers making $160,000 or more.

www.theepochtimes.com/irs-sends-out-new-batch-of-1400-stimulus-checks_3833108.html?utm_source=partner&utm_campaign=BonginoReport

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