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Americans who received an initial payment based on the tax return of the 2019 and those who recently submitted their returns to the Internal Revenue Service (IRS) would be receiving money for the third stimulus check next week starting on 12 July.
By the In the past few weeks, the IRS has focused on delivering “Economic Impact Payments” to these two populations.
The IRS processes plus “plus-up” payments
In the first case, these are the so-called “plus-up” or additional payments. The agency announced the first shipments under this line in early April .
The taxpayers to whom the “plus-up” payments correspond are those who were issued one based on the tax return of 2019, but the IRS received later this year and had to make a payment adjustment based on the difference in income between the two documents.
“This batch includes the first of the supplementary payments in progress for people who at the beginning of March received payments based on your tax returns of 2019, but are eligible for a new or higher payment based on their recently processed tax returns of 2020. These ‘additional’ payments could include a situation where a person’s income was reduced by 2020 in comparison with 2019, or a person had a new child or dependent on their tax return for 2020, and other situations, “said the agency in a statement on its website announcing the processing of the first batch of” plus-up ”.
Since the first week of April, the IRS has been processing these payments to dozens of taxpayers and will continue to do so until all shipments are completed. under this concept.
Americans who submitted their information to the IRS late
The other group that the IRS focuses on regarding shipments of the third stimulus check is people who filed taxes late with the agency or after the deadline.
Most are people who are not required to file taxes since they are low-income but they submitted their information to the entity this time so that they could send them the stimulus money.
The entity urged low-income people who normally do not file taxes, regardless of whether or not they receive federal benefits, to do the process to receive the payments approved in Congress from the US under the “American Rescue Plan.”
“This includes homeless people, people low-income from rural areas and others. Individuals who did not receive an Economic Impact Payment from the first or second round or who received less than the total amount may be eligible for the Refund Recovery Credit of 2019, but must file a tax return of 2020. See the special section on IRS.gov: Claiming the Refund Recovery Credit if you are not required to file a tax return, ”the agency said.
The latest available IRS report on the amount of third stimulus check payments processed and sent corresponds to statistics as of June 3.
The agency claimed responsibility for shipping more than 163 million of payments worth approximately $ 390 billion.
California, Texas, Florida, New York and Pennsylvania are the states that have received the most stimulus checks from the third round.
“The IRS continues to distribute weekly Economic Impact Payments and Credit reimbursement recovery of 2020 related as people with They continue to file tax returns and as the returns are processed. Ongoing payments will be sent to eligible individuals for whom the IRS did not have information to issue a payment but who recently filed a tax return, as well as to individuals who qualify for additional “plus-up” payments, the IRS confirmed.
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