More than 130 million stimulus check payments have been issued so far according to the IRS and of them million additional payments for people who decreased their income in 2019 because of the pandemic.
The Internal Revenue Service (IRS) said Thursday that the third batch of payments includes a large number of so-called ‘plus-up’ stimulus payments.
The ‘plus-up’ payments are to continue week by week as the IRS continues to process 2020 and 2019 tax returns.
If you lost your job during 2020 you may be eligible for a new or increased economic impact payment based on your tax returns that have been processed.
Perhaps your income was reduced when you lost your job during the pandemic so you earned much less than you reported in 2019. If you have a baby or adopted a child, you will be entitled to more money that will increase your household’s stimulus payment.
These supplemental or ‘plus-up’ checks will apply if you had already received stimulus money at the beginning of March, but the initial payment was based on a 2019 tax return and not the 2020 return you recently filed.
Payments will continue for people who have not received the third stimulus check and you could be eligible to receive a ‘plus-up’ check as the IRS continues to process tax returns.
Starting Friday a large batch of payments will be deposited to Social Security and other federal recipients who did not file a 2020 or 2019 tax return and did not use the Non-Filers tool last year.
Although payments to federal recipients will begin to be issued this weekend, most of these payments began to be sent electronically with an official payment date of April 7.
Those receiving Veterans Affairs benefits will have to wait an additional week. The IRS estimates that Economic Impact Payments could be issued as early as April 14.