New round of $1,400 stimulus checks brings total amount sent to about $391 billion

in steemhistory •  3 years ago 

The government has issued a new batch of $1,400 stimulus checks, bringing the total number of payments to almost 167 million, or about $391 billion.
This tranche included more than 1.8 million payments worth more than $3.5 billion.
Most of the payments were prompted by tax returns recently processed by the IRS.
GP: good news, stimulus checks, interest, money, tax refund
A new batch of $1,400 stimulus checks has been sent, bringing the total number of payments to almost 167 million, for a total amount of approximately $391 billion.

Since the American Rescue Plan Act was passed by Congress in March, the IRS, Treasury Department and Bureau of the Fiscal Service have announced new sets of direct payments issued to Americans.

While those announcements usually come weekly, this new deployment represents two weeks' worth of cash.
This tranche includes more than 1.8 million payments worth more than $3.5 billion. More than 900,000 of those checks were sent via direct deposit, and the rest were delivered via paper checks.

Most of the checks that continue to be issued are directed at taxpayers who are due additional money — so-called "plus-up" payments — now that their tax returns have been processed. In addition, new checks are also being sent to Americans who typically do not file taxes, but recently did so in order to claim the stimulus money.

This round included more than 900,000 "plus-up" payments, representing more than $1.6 billion. To date, the government has sent almost 7 million of those payments.

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