IRS deposits 90 million; 150,000 checks mailed

The Internal Revenue Service (IRS) has delivered more than 90 million COVID-19 stimulus checks, mostly in the form of direct deposits, the agency has announced.

As part of the $1.9 trillion American Rescue Plan, the first batch of payments was sent out by direct deposit for people who had account information on file from their 2019 or 2020 tax returns or who used the Non-Filers tool on IRS.gov last year.

The payments that arrived in accounts last week accounted for $242 billion.

The IRS has mailed 150,000 paper checks worth $442 million.

Additional batches and payments will be sent in the coming weeks by direct deposits and also through mail as a check or a debit card known as an Economic Impact Payment Card or EIP. You can check the process through the IRS Get My Payment tool.

The IRS continues to send the third round of stimulus payments in record time. “Since this new set of payments will include more mailed payments, we urge people to carefully watch their mail for a check or debit card in the coming weeks,” said IRS Commissioner Chuck Rettig in a statement.

The third round of stimulus payments will include up to $1,400 for individuals and dependents and $2,800 for married couples. Individuals earning up to $75,000 or couples earning up to $150,000 are eligible for the full amounts.

Individuals who earn more than $80,000 or couples who earn more than $160,000 are ineligible for payments.

The IRS will refer to 2019 or 2020 tax returns to find Adjusted Gross Income to determine eligibility.

Millions of people who received benefits through Social Security or Social Security Disability Insurance are still waiting for their stimulus payments.

The IRS announced that payments will be made “within the next few weeks.”

The benefits will generally be paid in the same method as the previous stimulus payments and will be sent automatically to recipients of SSI, SSDI, Railroad Retirement, and Veterans Affairs benefits.