Around $ 127 million in stimulus checks were sent. What we know about these payments
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According to the Treasury Department, IRS, and Bureau of the Fiscal Service, a second batch of stimulus payments totaling $ 1,400 has been sent, bringing the total number of checks issued to date to approximately 127 million for a total of approximately $ 325 billion .
The agencies announced that further tranches will be issued in the coming weeks. These payments are mostly made by direct deposit.
The $ 1,400 stimulus checks were approved by Congress under the American Rescue Plan. Checks are up to $ 1,400 per person plus $ 1,400 per dependent, provided they meet certain income and other criteria.
This new batch included roughly 37 million direct payments totaling nearly $ 83 billion.
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About 17 million of these payments were made by direct deposit. These checks, valued at more than $ 38 billion, went into use as of Friday March 19.
In addition, the second batch sent 15 million paper checks valued at approximately $ 34 billion and 5 million prepaid debit cards valued at approximately $ 11 billion.
These checks and debit cards also ran out on March 19 and will continue to be sent out for the coming weeks.
Most people don’t need to take any action to receive an incentive payment, the agencies said.
In the past few days, questions have emerged as to why some federal benefit recipients – like Social Security, Supplemental Security Income, Railroad Retirement Board, and Veterans Affairs – haven’t received their payments yet.
Some federal beneficiaries who filed tax returns for 2019 or 2020 or who used the IRS tool without a filer last year were included in the first two batches of $ 1,400 payments, government agencies said.
For those federal recipients who have not submitted their information through these channels, the IRS is working to get up-to-date information from the appropriate government agencies monitoring benefits to ensure that “as many people as possible get fast, automatic payments” . “The Finance Department, IRS, and the Financial Services Bureau said.
Earlier this week the House Democratic legislature sent a letter to the IRS and Social Security Agency asking for a schedule for federal beneficiaries to receive the money.
“Some of our most vulnerable seniors and people with disabilities, including veterans who have served our country with honor, cannot meet basic needs while awaiting their overdue payments,” said lawmakers, including Massachusetts Chairman, Rep. Richard Neal The House Ways and Means Committee wrote.