Stimulus update: ‘Plus up’ payments and new batch of $1,400 stimulus checks sent out

The IRS sent out a ninth batch of economic impact and “plus-up” payments this week as part of the American Rescue Plan.

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The batch, which included nearly 1 million checks, brings the total amount paid out to around $388 billion since the program started in March.

Included were nearly 460,000 “plus-up” payments, or additional money due to some once the IRS processed their 2020 tax returns.

The ninth batch of payments includes:

• More than 960,000 payments with a value of more than $1.8 billion.
• More than 500,000 payments, with a value of over $1 billion, that went to eligible individuals for whom the IRS had not previously had information to issue an economic impact payment but who recently filed a tax return.
• Nearly 500,000 direct deposit payments (with a total value of $946 million) with the remainder as paper payments.

Other stimulus payment news:

• The IRS will continue to make economic impact payments on a weekly basis. Ongoing payments will be sent to eligible individuals for whom the IRS previously did not have information to issue a payment but who recently filed a tax return, as well to people who qualify for “plus-up” payments.

“These payments could include a situation where a person’s income dropped in 2020 compared to 2019, or a person had a new child or dependent on their 2020 tax return, and other situations,” according to the IRS website.

• With a tax deadline of Monday, the IRS is offering free tax return preparation available for qualifying people.

What if you haven’t received a payment?

Individuals can check the Get My Payment tool on IRS.gov to see the payment status. Additional information on economic impact payments is available on IRS.gov.

What if your payment went to an account number that you don’t recognize?

If the payment is routed to an account that is inactive or that has been closed, the bank will reject the deposit. The IRS will then mail a check, which will go to the address on your tax returns or the one the U.S. Postal Service has on file.

What do I do if the check is for the wrong amount?

You will get a letter from the IRS about two weeks after your check has been deposited. There is information on that letter that explains the check amount and what you can do if there is a problem.

Cox Media Group