The third round of stimulus checks worth $1400 is being sent out in the third batch. This time around, payments called “plus-up” are going to be included for eligible individuals. This is possible as the IRS has finished processing their tax returns for 2020.
The Latest Batch Of Stimulus Check
With the recent batch, the total stimulus checks sent out now number over 130 million, which stands for a combined worth of approximately $335 billion, as reported by the IRS. The latest group number over 4 million checks with a total payment amount of over $10 billion.
The official last date for the payments was 31st March. However, the IRS has said that some people may have received the stimulus check earlier as well. The latest stimulus check was sanctioned by Congress in February. Each individual can receive a maximum of $1400 along with $1400 for each dependent provided all the criteria are met.
The payments called “plus-up” refers to individuals who were to receive additional amounts in their stimulus check. The latest batch included such payments as well.
The group includes individuals whose stimulus check amount was calculated on outdated tax returns of 2019 but who qualify for additional money under their 2020 tax returns. The IRS says new dependents and a loss of income are reasons that may have caused such situations. Usual non-filers who filed for the first time to receive the stimulus payments also fall under this group.
Payments for new filers, as well as plus-up amounts, are going to be sent out weekly from now on, claims the IRS. Prior to the current batch, only individuals whose tax returns for 2019 or 2020 were filed received the checks.
Further payments for beneficiaries of federal programs are underway and are expected to begin being received on 7th April.