CLEVELAND — The federal government has issued 90 million stimulus payments worth $242 billion, mostly through direct deposit, the Internal Revenue Service and the Department of Treasury jointly announced.
Some recipients began receiving their direct deposits over the weekend. The agencies said processing began Friday.
The first batch went primarily to taxpayers who provided direct deposit information on their 2019 or 2020 returns.
However, with the first two stimulus payments some people who received direct deposits the first time received checks instead the second time.
Included in the first batch of payments for this third stimulus were about 150,000 paper checks worth close to $440 million. Additional waves of payments over the coming weeks will be via direct deposit, check or debit card.
Status can be checked at with the Get My Payment tool at irs.gov. However, details are not yet available for all people.
This third round of stimulus amounts to $1,400 per person - with the calculations expanded to include more dependents such college-age children, disabled adults and grandparents, officials explained. Family payments for the first two rounds of stimulus were based on the number of dependents under the age of 17.
There are, however, income limits. The payments phase out completely at $80,000, $120,000 and $160,000 for these groups.