In a recent news release, the IRS stated that another 2.2 million additional Economic Impact Payments have been sent out under the American Rescue Plan. This now brings the total of economic stimulus payments up to around $400 billion in value since they began their rollout in March.
Know: Why You Shouldn’t Plan Your Budget Around Any Additional Stimulus MoneyMore: California to Issue More Stimulus Checks as Newsom Signs $100-Billion Recovery Plan
About 1.3 million payments went to eligible individuals for whom the IRS previously did not have information to issue a stimulus relief check to. This means these checks recently went out to people who likely filed their taxes late. The good news is that they were still able to receive their money, despite late filing.
These payments also include ongoing “plus-up” payments for those who received stimulus checks based on their 2019 returns but were eligible for a new or larger payment based on their most recently processed 2020 tax return, the IRS stated. In total, the IRS has made more than 9 million plus-up payments this year worth around $18.5 billion.
Related: What Is A Plus-Up Payment and How Can I Get One?
The IRS also stressed the importance of checking if you are eligible for certain ebenefits, regardless of whether you file taxes or not. They state that people who don’t normally have an obligation to file a tax return and do not receive federal benefits already may qualify for these stimulus payments. This includes homelessess, the rural poor and other historically under-served groups. The IRS has created an online Non-Filer tool to allow those who were not required to file or normally do not file a tax return to file a simplified tax return and register themselves for these benefits. This is separate to the non-filer tool for the child tax credit, but will need to be done first before one can access the other non-filer tool for child tax credit purposes.
See: The Effect of Stimulus Checks on Inflation & the Overall EconomyFind: Why Many Families Who Needed the Child Tax Credit Most Didn’t Get It
Those who did not get a first or second stimulus check may still be eligible for the 2020 Recovery Rebate Credit, but you will need to file a 2020 tax return. Free tax preparation is available for those who qualify, which can be found here.
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Last updated: July 22, 2021