The IRS says it has now delivered more than $400 billion in American Rescue Plan coronavirus stimulus checks.
The agency said in a Wednesday statement that it’s disbursed more than 171 million payments under President BidenJoe BidenOvernight Defense: Senate panel adds B to Biden’s defense budget | House passes bill to streamline visa process for Afghans who helped US | Pentagon confirms 7 Colombians arrested in Haiti leader’s killing had US training On The Money: Senate braces for nasty debt ceiling fight | Democrats pushing for changes to bipartisan deal | Housing prices hit new high in June Hillicon Valley: Democrats introduce bill to hold platforms accountable for misinformation during health crises | Website outages hit Olympics, Amazon and major banks MORE’s $1.9 trillion coronavirus relief package since they began rolling out on March 12.
The checks represent the third round of direct payments to U.S. adults since the pandemic began last year.
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Single filers with income less than $75,000 and married couples with income under $150,000 were eligible for $1,400 per person. The payments phased out above those thresholds.
The Treasury Department said late last month that more than half the money has gone to households with income under $50,000 per year.
The IRS said Tuesday that it has distributed 2.2 million payments over the past six weeks, which are valued at $4 billion.
Of the $4 billion, about $2.6 billion went to eligible people for whom the agency did not have information to issue a payment but who recently filed a tax return.
Another $1.6 billion of payments made over the past month went to people who received stimulus payments based on their 2019 return but qualified for a new or larger payment based on their 2020 tax returns.
The IRS said it will continue issuing stimulus payments on a weekly basis to people who recently filed tax returns, as well as to those who qualify for the additional payments based on 2020 returns.