Listen to this article

The 4^th batch of stimulus checks dispatched as part of President Biden’s $1.9 trillion American Rescue Plan by the IRS during this week, giving payments to another 25 million Americans. The IRS, Bureau of the Fiscal Service, and Treasury Department issued a joint press release. The statement says the agency has disbursed an estimated 156 million payments, worth roughly $372 billion in the span of about one month. About $36 million was sent mostly to low-income Americans including 19 million checks for Social Security recipients, in the latest move. The payment was sent to those who aren’t required to file tax returns. Another 3 million checks were issued to Supplemental Security Income recipients. However, 85,000 went to Railroad Retirement board beneficiaries. The latest move also included at least 1 million “plus-up” payments for Americans.

The US federal government calculated the original 2 cash payments, worth up to $1,200 and $600, based on either 2018 or 2019 tax returns. The amount will also be delivered to millions of taxpayers who lost their jobs or saw their income reduced last year as a result of the pandemic. Individuals who haven’t received their payment can check its status using the Get My Payment tool of IRS. The first payments will go to Americans with direct deposit set up. The agency will mail paper checks and pre-paid debit cards to anyone who qualifies for the money. The cash payments included in Biden’s stimulus bill are the largest yet, with some Americans eligible to receive up to $1,400. But, some people will be excluded like the previous rounds of checks worth a respective $1,200 and $600.

It is noteworthy that individuals with an adjusted gross income of $75,000 or less and couples with an adjusted gross income of $150,000 or less are eligible to receive a one-time payment of $1,400 under the legislation. Americans earning more than the threshold will still receive a partial check. But, payments are cut off for individuals who earn $80,000 a year or more and couples who earn $160,000 a year or more. The IRS also said on Wednesday that the agency has delivered stimulus checks to millions of Social Security recipients and other lower-income Americans in the 3^rd round of payments under President Biden’s American Rescue Plan. The agency said around 19 million payments, worth roughly $26 billion, went to individuals collecting Social Security benefits as part of the 4^th batch of checks.