Internal Revenue Service (IRS)

IRS disburses over 1.8 million EIP’s

It represents a total value of approximately $391bn since these payments began rolling out to Americans in batches on 12 March

The Internal Revenue Service (IRS), the US Department of the Treasury, and the Bureau of the Fiscal Service announced that they have disbursed more than 1.8 million additional Economic Impact Payments  (EIPs) under the American Rescue Plan.

The figure brings the total disbursed so far to nearly 167 million payments. 

It represents a total value of approximately $391bn since these payments began rolling out to Americans in batches on 12 March. 

According to the authority, more than 900,000 payments, with a value of approximately $1.9bn went to “eligible individuals” for whom the IRS previously did not have information to issue an EIP but who recently filed a tax return. 

This also includes additional ongoing supplemental payments for people who earlier this year received payments based on their 2019 tax returns but are eligible for a new or larger payment based on their recently processed 2020 tax returns. 

In the last two weeks, there were more than 900,000 of these “plus-up” payments, with a value of more than $1.6bn. In all, the IRS has made nearly seven million of these supplemental payments this year.

The IRS said that it will continue to give out EIP’s on a “weekly basis”. Ongoing payments will be sent to eligible individuals for whom the IRS previously did not have information to issue a payment but who recently filed a tax return, as well to people who qualify for “plus-up” payments.

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