Another 1.8 million $1,400 stimulus checks are on the way
While many people received their $1,400 stimulus check in March, the Treasury Department, the Internal Revenue Service, and the Bureau of the Fiscal Service are still working to get them to those who have yet to receive their payment. And as of this week, another 1.8 million are en route.
The latest round of payments brings the total sent in May to approximately 3.9 million. All totaled, nearly 167 million payments have been sent to Americans, with a total value of $391 billion.
Like previous batches, this round folds in supplemental payments for people who recently filed their 2020 taxes, earning them a bigger stimulus check. (Approximately 900,000 people will see these plus-up payments this time around.)
Half of the checks were sent electronically. The remainder were sent in paper form.
Also, half the checks sent were “plus-up” payments – given to people who were not eligible for a full stimulus payment based on their 2019 tax returns, but were eligible based on their recently processed 2020 ones. The remainder when to people who the IRS previously did not have contact information on file to send the check.
If you’re still waiting on a check the best way to track this third stimulus payment is via the “Get My Payment” portal on the IRS.gov website.
The stimulus payments were part of the $1.9 trillion package signed into law by President Joe Biden in March. Single filers earning up to $75,000 are eligible for $1,400, while couples filing jointly earning up to $150,000 can get $2,800. No payments are being sent to single filers earnings above $80,000, or couples earning jointly above $160,000. Income was based on the adjusted gross income (AGI) of your most recent tax filing.
The IRS plans to continue making Economic Impact Payments on a weekly basis through tax season.
Our mission to make business better is fueled by readers like you. To enjoy unlimited access to our journalism, subscribe today.