Stimulus payment adjustments are still going out
June 11, 2021. Summarized by summa-bot.
Compression ratio: 24.2%. 1 min read.
The Internal Revenue Service reports it has distributed additional stimulus cash to millions of people who lost income during 2020 and qualified for more than they had originally received.
Known as "plus-up" payments, the money goes automatically to people whose 2020 tax returns show they missed out when the first two rounds of checks -- which were sent based on 2019 tax filings -- went out.
Another 900,000 payments went out over the past two weeks to people whom the IRS did not previously have enough information for but who recently filed tax returns.
The IRS will continue to send out "plus-up" payments to those who recently filed tax returns on a weekly basis.
More than 169 million households have received stimulus money this year to date.
The IRS has started sending letters notifying more than 36 million families who, based on tax returns, may be eligible for the child tax credit payments.
Those payments will technically be an advance on a 2021 tax credit.
Congress also made the child tax credit fully refundable so more low-income families can benefit.