Each week the IRS and the Treasury Department send out a new batch of Economic Income Payments. Who will receive the money this week?
Since the third stimulus check began to be distributed in March, new batches of payments have been going out every week. Is your money on the way?
The week starting today, Monday, July 5, Americans who received an underpayment from the IRS for a third stimulus check as well as those who recently filed a tax return should receive money from the IRS.
In the most recent press release on its website last month, the agency stated: "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 ".
Therefore, although the IRS has not reported the details of this week's shipments, we know that it sends weekly batches and usually begins to schedule direct deposits for stimulus checks every Friday with an effective date of payment on Wednesday of the following week.
It is possible that the IRS has not updated the data of the most recent shipments of the third round of EIPs because the coming shipments of the monthly payments corresponding to the "Child Tax Credit" have occupied the news agenda.
The agency specified in the last release regarding the matter that it had disbursed more than 2.3 million Economic Impact Payments in the last shipment and that this raised the total of stimulus checks processed and sent to more than 169 million for a total value of approximately $ 395 billion.
And, according to an agency report last week, California, Texas, Florida, New York, and Pennsylvania rank first for more checks sent to payees.
The IRS has not yet specified the date on which it expects to complete the shipments of all the stimulus checks of the third round and, according to the American Rescue Plan, the agency and the Treasury Department have until December 31 to comply with that obligation.