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More $1,400 Stimulus Checks Are Sent as the IRS Processes Tax Returns

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  • About 2 million more $1,400 stimulus checks have been issued.
  • This seventh batch brings the total number of payments to approximately 163 million, or about $384 billion.
  • Many of the new checks were issued after the IRS processed people's tax returns.

About 2 million $1,400 stimulus checks have been issued in a seventh batch of payments.

The total number sent to date is now approximately 163 million, or about $384 billion.

This latest round is more than $4.3 billion. It includes approximately 1.1 million direct deposits and about 850,000 paper checks.

The third tranche of Covid stimulus checks was authorized by Congress in March through the American Rescue Plan Act.

More from Personal Finance:
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The payments are for up to $1,400 per person, plus $1,400 per dependent, to Americans who fulfill certain income and other requirements.

As with previous disbursements of the third stimulus checks, this batch includes money issued to people whose tax returns have recently been processed by the IRS. That applies to people who the government did not previously have on record, as well as those who are due additional "plus-up" payments based on their 2020 returns.

Over 1.2 million payments, or more than $3 billion, went to people who the government did not previously have on file.

Additionally, this new round included more than 730,000 "plus-up" payments, representing more than $1.3 billion.

Once the IRS processes new returns, it will send additional plus-up payments if the previous stimulus checks were too small. That could be because someone's income has dropped since their 2019 return, for example, or they have added a qualifying dependent to their family.

Full payments go to individuals with up to $75,000 in adjusted gross income, as well has heads of household with up to $112,500 or married couples who file jointly with up to $150,000.

Those checks are reduced for those with incomes above those amounts. They fully phase out at $80,000 for individuals, $120,000 for heads of household or $160,000 for married couples.

If you have not yet received your $1,400 stimulus check, or want to claim a direct payment from the previous rounds of up to $1,200 or $600 per individual, the IRS urges you to file a tax return this year.

That includes federal beneficiaries who want to submit information on eligible dependents, as well as homeless individuals.

If you make $72,000 or less, you can file your federal tax return for free using the IRS Free File program. The IRS provides more information on its website on how to claim your stimulus checks if you are not usually required to file a tax return.

If you're a parent that received stimulus payments for your children and would be willing to share how you spent the money, email carmen.reinicke@nbcuni.com

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