Monday, May 17, 2021

New round of stimulus checks are on their way, officials say

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The action comes after President Joseph Biden signed into law Democrats’ coronavirus stimulus plan, which authorized a third round of stimulus payments to millions of Americans since the pandemic began.

“Even though the tax season is in full swing, IRS employees again worked around the clock to quickly deliver help to millions of Americans struggling to cope with this historic pandemic,” IRS Commissioner Charles Rettig said in a statement.

In a call with reporters, officials said they did not yet have many statistics on the payments, such as how many are already heading out the door.

The government has gotten better at distributing stimulus checks, with the last round OK’d by Congress in December going out much faster than the initial one approved earlier last year.

The payments will generally be larger than those in previous rounds, though somewhat fewer people will receive them.

They’re generally reserved for individuals earning less than $75,000, and couples twice that, with $1400 going to each person, including all dependents claimed on a return. A family of four, for example, will receive $5,600.

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