Fourth stimulus check update – New payments ARE being sent out to give Americans ‘bonus’ money
MORE stimulus cash is on its way to hard-hit Americans as the IRS makes thousands of "bonus" payments.
The tax agency has announced it has released extra money to rafts of people based on information from recently filed tax returns.
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That means hundreds of thousands of people who have already received a third check are set to see even more cash hit their bank accounts.
Meanwhile, more than one million Americans who did not get a stimulus check during this third round are due to finally get a payment after putting through their 2020 taxes.
On Wednesday, the IRS said it had sent out a further 2.2million direct payments over the past six weeks thanks to Joe Biden's Covid rescue package.
More than 900,000 of the stimulus checks sent out in recent weeks have been dubbed "plus-up" payments - bonus cash for people who got a third check - but not the full $1,400 payment.
Smaller payouts could have been based on 2019 tax returns, meaning if the IRS now has your 2020 return, and it shows you made less than the year before, you could be in line for extra cash.
And around 1.3million fresh payments are going to people who haven't yet received a stimulus check because the IRS didn't have all the needed information.
FOURTH CHECK?
It comes as a fourth stimulus check is still possible and new payments could land in accounts automatically if it's approved.
Lawmakers want to further the latest round of stimulus checks which has already delivered $1,400 to each eligible adult and child under the American Rescue Plan during the Covid pandemic
Some of the payments include "plus-up" adjustments for those who were underpaid in previous checks.
On June 9, the IRS said it had now distributed more than 169million payments worth $395billion, but they have since warned there could be delays.
Yet, among a pair of letters sent to President Joe Biden, seven Democrats from the House Ways and Means Committee had expressed their support for another round of stimulus checks.
It was signed by 26 Democrats, which had been pushing for the enactment of “automatic stabilizers.”
They believed that this would help lawmakers avoid negotiations tied to any future relief package, allowing for faster distribution.
The proposed legislation includes unemployment as an automatic stabilizer, which would enable the current number of eligible jobless Americans to claim an automatic relief payment.