This probably covers more than half of the households eligible for this third round of payments, which were included in the $ 1.9 trillion Covid rescue bill signed into law by President Joe Biden less than a week.
Most of this first batch of payments was sent by direct deposit and all those recipients will have access to the funds on Wednesday, the agencies said.
The government also sent about 150,000 paper checks by mail.
Click here to access the IRS Get My Payment tool to check your payment status.
Several batches of payments will be issued in the coming weeks by direct deposit, paper checks and prepaid debit cards.
No action is required for most people to receive the money. Beneficiaries of social security and those receiving benefits for veteran issues should also receive the money automatically, even if they do not submit taxes.
People can check their payment status using the IRS Get My Payment online tool.
Who receives a payment?
Payments are worth up to $ 1,400 per person and are expected to reach 85% of households, according to the White House.
Families will receive an additional $ 1,400 per addict, so a couple with two children could receive up to $ 5,600. Unlike previous rounds, families will now receive extra money for dependent adults over the age of 17.
The total amount is for people earning less than $ 75,000 of adjusted gross income, household heads (such as single parents) earning less than $ 112,500, and married couples earning less than $ 150,000. But then the payments are phased out as revenue grows.
Lawmakers have narrowed the scope of payments this time, so not everyone who received a check earlier will receive one now. It removes people who earn at least $ 80,000 a year from adjusted gross income, heads of household who earn at least $ 120,000, and married couples who earn at least $ 160,000 – no matter how many children they have.
In what year are income limits based?
The new income thresholds will be based on the taxpayer’s most recent return. If they have already filed a return for 2020 by the time the payment is sent and it has been processed, the IRS will base its eligibility on adjusted gross income from 2020. Otherwise, it will rely on the 2019 return or information submitted through -an online portal created last year for people who usually do not file tax returns.
If your 2019 income was lower than your 2020 salary, you will not owe money back. But if your income has dropped in 2020, filing your tax return now – before your payments disappear – may mean you get a bigger check.
MORE: What to know about the third stimulus control and the tax filing season
Reaching those who need it most
Most people receive payments automatically, but many have failed – for several reasons. An estimated 8 million eligible people did not receive the first round of payments delivered last year.
Many of these people have very low incomes and are not normally required to file tax returns. Last year, the IRS set up an online portal where you could register for money.
The IRS has no plans to reopen the portal at this time. Instead, officials encourage people to file tax returns in 2020. Low-income people can use the agency’s free file option.