A New Batch Of Stimulus Checks Worth Over $4.2 Billion Have Been Sent Out

A new set of stimulus checks for up to $1,400 per person has been sent, the government announced on Wednesday.

More than 2.3 million payments, representing over $4.2 billion, are on their way to select Americans.

The figure includes “plus-up” payments to people who are due new or additional money now that their 2020 tax returns have been processed.

The government has announced that over 2.3 million new stimulus checks have been sent. These batch of checks are worth $4.2 billion and will make up about $395 billion when combined with all other stimulus payments the government has issues to Americans since March as part of the American Rescue Plan Act.

This rescue plan approved payment of about $1,4000 per person, as well as $1,400 per eligible dependent - for all individuals and households who fall under the $99,000(or $199,000 for double-income families) income threshold and fulfill other requirements.

Out of the 2.3 million checks sent out in this batch, 1.1 million of them which are worth over $2.5 billion were plus up payments. This includes fresh or bigger payments that are due to individuals and families after their 2020 tax returns have been processed. Over 8 million of these sorts of payments have been sent in total.

Another 900,000 checks - which are worth $1.9 billion - were sent to individuals who just recently filed their tax returns with the revenue service, but didn't have their information on record before now.

The payments were distributed through both direct deposit payments and paper checks. About 1.2 million were sent via direct deposits while the rest were sent as paper checks.

What To Do If You Haven't Received Your Stimulus Check

While some checks have been sent out, it is not too late to claim yours. All that has to be done is for you to file a federal tax return, which will show if you're eligible. Your tax return will show whether or not your income dropped in 2020 or if you have an added dependent - both are factors that determine eligibility.

The IRS still issues checks weekly, including plus-up payments to people who were previously ineligible or weren't on the record.

People can also claim missing money from the first two $1,200 and $600 federal stimulus checks that were sent out, as a new section for the recovery rebate credit has been added to this year's process.

It is important to file a tax return with the IRS, not only will it determine if you're eligible for stimulus checks, but it will also determine if you're eligible for child tax credit, free tax preparations, or earned income tax credit.

Monthly payments for the newly improved child tax credits are set to go out in a few months.