Treasury says it’s disbursed 2 million more stimulus payments

The Treasury Department said Thursday that it has sent out an additional 2 million stimulus payments authorized by President Biden’s coronavirus relief law, bringing the total number of payments disbursed to about 161 million.

The latest batch of payments is the sixth that Treasury has sent out, and the payments had a value of nearly $3.4 billion. These payments began processing on April 16 and had an official payment date of Wednesday, Treasury said.

Approximately 700,000 of the payments went to people about whom the IRS did not previously have information but who recently filed a tax return. About 600,000 were sent to people who receive Social Security benefits or Supplemental Security Income, including some with foreign addresses, Treasury said.

Additionally, Treasury said it disbursed 700,000 “plus-up” payments to people who received payments earlier this year based on their 2019 tax return but are entitled to additional amounts based on their 2020 tax returns.

Biden’s relief law, enacted in March, provided for payments for most households of up to $1,400 per person. Individuals with income of under $75,000 and married couples with income of under $150,000 are eligible for the full amount. The payment amounts are reduced above those thresholds, and individuals with income above $80,000 and married couples with income above $160,000 are not eligible for payments.

This is the third round of stimulus payments enacted since the start of the pandemic.