Congress approved the third stimulus check in March of this year. Even after four months, the IRS continues to send out the payment to eligible recipients. The newest batch of payments mainly includes additional payments to those who already got the third coronavirus stimulus check, but are due more money based on their latest tax return.
Additional coronavirus stimulus check: who will get it?
On Wednesday, the IRS (via a press release) informed that it issued 2.2 million more stimulus checks as recently as July 21, amounting to more than $4 billion. As per the agency, a significant number of payments were bonus or "plus-up" payments to those who received less money than what they are eligible for.
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About 900,000 payments were plus-up payments, additional payments to those who qualify for more payment after the IRS processed their 2020 tax returns. These people got the third stimulus check based on their 2019 tax return. The IRS has now processed their 2020 return and found that they made less money last year than the year before.
Also, about 1.3 million checks went to those who only recently filed a tax return and for whom the agency previously didn’t have enough details to send the payment.
Further, the agency noted that it has now sent over 171 million payments (worth more than $400 billion) under the third round. The agency informed that it had distributed more stimulus checks in the third round compared to the earlier two rounds.
As per the IRS, more than half of the payments it sent went to those making less than $50,000. Moreover, about 10% of the checks went to those getting Social Security and other government benefits, or those who aren’t required to file taxes, or those who used the Non-filer tool.
The IRS said it would continue to send the stimulus payment on a weekly basis, and the payment now will primarily go to people for whom the agency didn’t have enough information previously to issue the check, but such people have now filed a tax return. Also, the payment is going to those who are eligible for more money based on their latest tax return.
You may still get the payment
Those who haven’t yet got the stimulus check (and are eligible) can still get the payment. These people either need to file a 2020 tax return or provide their information to the IRS by using the Non-filer tool. The Non-filer tool, which is available on the IRS website, is for those whose income isn’t enough to qualify them for filing a tax return.
Additionally, these people (with eligible children) can also use the Non-filer tool to register for the expanded Child Tax Credit. The IRS has already sent the first installment of CTC on July 15.