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?
During this week that begins May 31, Americans who recently filed taxes with the IRS, as well as those who received an initial payment based on the 2019 tax return, will receive payments corresponding to the third stimulus check.
Although it should be noted that due to the Memorial Day holiday weekend, there may be delays in the arrival of payments, usually the official payment date is on Wednesdays.
Every Wednesday morning, Nacha and the banks release direct deposits for payments scheduled on the Friday of the previous week, while the IRS sends paper checks to taxpayers who did not provide the necessary information to receive an electronic transfer.
The most recent statement from the IRS, posted on its website on Wednesday, May 26, reported that, in the last two weeks, the agency processed more than 1.8 million additional payments corresponding to the third round of stimulus checks.
The latest batches, in addition to sending payments to people for whom the IRS previously didn't have information, also included “plus-up” payments for people who received checks earlier this year based on their 2019 tax returns but are eligible to receive more money based on their 2020 tax returns.
The IRS informed that it will continue to make Economic Impact Payments weekly.