Stimulus Check- Recent Developments In The IRS

The IRS has plans of distributing its stimulus check to most of the eligible Americans, with its latest scheme of 2.3 million more payments up for grabs. Some of the payments as a part of the stimulus would include the plus-up adjustments that have been deemed necessary for those who have received less money than they were eligible. 

The IRS has come up with recent developments for the stimulus check

The current round of stimulus check payments is all part of the administration efforts under the American Rescue Plan which will be delivering a sum of $1,400 to every single child and adult. On Wednesday, the IRS mentioned that it had now sent more than 169 million payments with a total valuation of around $395 billion. This would result in the last batch of checks having a total valuation of about $4.2 billion. 

Although the IRS has been working round the clock in putting up the stimulus check through the bank accounts, there is still a certain section of the demographic that has had to wait for months for their checks to come forward. This is precisely due to the IRS prioritizing the delivery of checks to those who have already filed for their tax returns for the last couple of years.

This has also resulted in the agency being able to verify pretty swiftly those who are eligible based on their gross income while determining where to direct deposit or mail their checks. 

Unfortunately, there will still be a few others who haven’t had the opportunity to file their tax returns or claim their adjustments for the payment. These people would need to wait for the IRS to start processing their payment for a stimulus check.