Lexington-Fayette

Many federal beneficiaries will undergo a stimulus check this week – Lexington-Fayette, Kentucky

Lexington-Fayette, Kentucky 2021-04-07 23:22:59 –

The IRS said it has issued 25 million economic stimulus checks this week, for a total of 156 million payments, since the government began paying checks last month.

Payments began processing last Friday and were expected to hit bank accounts by Wednesday.

The largest chunk of checks was sent to social security recipients who did not file their tax returns for 2019 or 2020. Overall, 19 million social security recipients are in the process of receiving payments.

An additional 3 million payments were paid for Supplemental Security Income payments.

Most of the payments sent this week came from direct deposits.

The IRS also announced that those receiving Veterans Affairs benefits should begin receiving checks next week.

Most Americans who earn up to $ 75,000 a year receive a direct payment of $ 1,400 (couples who earn up to $ 150,000 a year receive $ 2,800). Household heads who earn up to $ 112,500 a year also receive a full $ 1,400.

Those who earn between $ 75,000 and $ 80,000 ($ 150,000 to $ 160,000 for couples) will receive a proportionally distributed check. Checks will not arrive for more than $ 80,000 ($ 160,000 for couples).

The IRS uses the “Adjusted Total Income” to determine the income eligibility of payments. If you have not filed your tax return for 2020, the IRS will use the 2019 tax information to determine your eligibility.



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