Internal Revenue Service (IRS)

IRS issues additional 2.3 million economic impact payments

The announcement brings the total number of payments disbursed to over 169 million, representing $395bn of payments since March 12

The Internal Revenue Service (IRS) has disbursed an additional 2.3 million economic impact payments under the American rescue plan.

The announcement brings the total number of payments disbursed to over 169 million, representing $395bn of payments since March 12.

Totalling more than $4.2bn, the recent additions comprised 900,000 payments of $1.9bn to eligible individuals for whom the IRS previously had no information on but have now recently filed a tax return.

Moreover, the last two weeks saw 1.1 million “plus-up” payments worth $2.5bn provided as “ongoing supplemental payments”.

The body said that it will continue to make the economic impact payments “on a weekly basis” to both newly eligible and returning individuals.

The IRS also issued a “special reminder” to those who don’t usually file a tax return to file a 2020 return in order to receive “all the benefits they’re entitled to under the law”.

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