Coronavirus relief checks sent to 90 million Americans in initial round of payments, the IRS says
WASHINGTON – The Internal Revenue Service has sent out coronavirus relief checks to more than 90 million Americans under the initial round of payments made under President Joe Biden’s American Rescue Plan, the agency said Wednesday.
The first batch of payments, which total up to $1,400 each, were distributed mostly by direct deposits, which some recipients started to receive last weekend. Some Americans may have noticed the payments as pending in their bank accounts before Wednesday’s official payment date. But as of Wednesday, all recipients who received direct deposits in the first round will have access to their funds, the IRS said.
The initial payments totaled more than $242 billion and went primarily to eligible taxpayers who provided direct deposit information on their 2019 or 2020 returns. That includes people who don’t typically file a return but who successfully provided their information to the IRS last year via its online tool for non-filers.
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The Treasury Department also has mailed 150,000 paper checks totaling $442 million to Americans who don’t receive the money by direct deposit, the IRS said.
Additional payments will be sent in the coming weeks by direct deposit and through the mail as a check or debit card.
Individuals with an adjusted gross income of $80,000 or less ($160,000 for joint filers) are eligible for a one-time payment of up to $1,400, plus an additional $1,400 for each dependent child. The payments start to phase out for individuals earning $75,000 and will cut off completely for anyone who makes more than $80,000.
For couples filing jointly, the phaseout starts for those making $150,000 and cuts off at $160,000. For those filing as head of household, the phaseout begins at $112,500 and cuts off at $120,000.
Michael Collins covers the White House. Follow him on Twitter @mcollinsNEWS.
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