Internal Revenue Service (IRS)

IRS Economic Impact Payments to total $325bn

In total, this second batch includes approximately 37 million payments, with a total value of nearly $83bn

The Internal Revenue Service (IRS), U.S. Department of the Treasury and the Bureau of the Fiscal Service have announced they are disbursing the second batch of Economic Impact Payments from the American Rescue Plan, bringing the total disbursed payments to 127 million payments worth approximately $325bn. 

In total, this second batch includes approximately 37 million payments, with a total value of nearly $83bn. 

The latest round includes approximately 17 million direct deposit payments, with a total value of more than $38bn. These payments began processing on March 19, and some Americans saw the direct deposit payments as pending or as provisional payments in their accounts before today’s official payment date.

The batch also includes nearly 15 million paper checks (with a total value of nearly $34bn) and approximately 5 million prepaid debit cards (with a total value of around $11bn).

As previously announced on March 12, Economic Impact Payments will continue to roll out in batches to millions of Americans in the coming weeks. The second batch of payments includes direct deposits, as well as paper checks and debit cards being sent through the mail. 

Like the first batch of payments, the latest payments primarily were sent to eligible taxpayers who filed 2019 or 2020 returns. People who don’t typically file a return but who successfully used the Non-Filers tool on IRS.gov last year were sent payments in this batch.

The first batch of payments began processing on March 12, and some Americans saw the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of March 17.

In total, the first batch included approximately 90 million payments, with a total value of more than $242bn. While most payments were disbursed by direct deposit, the Treasury mailed roughly 150,000 checks worth approximately $442m.

Additional batches of payments will be sent in the coming weeks as direct deposits and through the mail as paper checks or debit cards. The vast majority of all Economic Impact Payments will be issued by direct deposit, with the IRS adding that no action is needed by most taxpayers.

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