Eligible individuals in this group should file a 2020 tax return as quickly as possible to be considered for an additional payment for their qualifying dependents. Filing a 2020 tax return will also assist the IRS in determining whether someone is eligible for an advance payment of the 2021 Child Tax Credit, which will begin to be disbursed this summer.įor example, some federal benefits recipients may need to file a 2020 tax return – even if they don't usually file – to provide information the IRS needs to send payments for a qualifying dependent. Special reminder for those who don't normally file a tax returnĪlthough payments are automatic for most people, the IRS continues to urge people who don't normally file a tax return and haven't received Economic Impact Payments to file a 2020 tax return to get all the benefits they're entitled to under the law, including tax credits such as the 2020 Recovery Rebate Credit, the Child Tax Credit, and the Earned Income Tax Credit. 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. The IRS will continue to make Economic Impact Payments on a weekly basis. Overall, the last two weeks of payments contain more than 1.2 million direct deposit payments (with a total value over $2.2 billion) with the remainder as paper check payments.In all, the IRS has made more than 8 million of these supplemental payments this year. In the last two weeks, there were more than 1.1 million of these "plus-up" payments, with a value of more than $2.5 billion. This also includes additional ongoing supplemental payments for people who earlier this year received payments based on their 2019 tax returns but are eligible for a new or larger payment based on their recently processed 2020 tax returns.More than 900,000 payments, with a value of approximately $1.9 billion, went to eligible individuals for whom the IRS previously did not have information to issue an Economic Impact Payment but who recently filed a tax return.In total, this includes more than 2.3 million payments with a value of more than $4.2 billion.Here is additional information on the last two weeks of payments, which includes those with official payment dates through June 9:
They represent a total value of approximately $395 billion since these payments began rolling out to Americans in batches on March 12. Today's announcement covering the most recent two weeks of the effort brings the total disbursed so far to more than 169 million payments. Department of the Treasury, and the Bureau of the Fiscal Service announced on Wednesday they have disbursed more than 2.3 million additional Economic Impact Payments under the American Rescue Plan. JWASHINGTON - The Internal Revenue Service, the U.S. Image by PublicDomainPictures from Pixabay
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