April 24, 2021

Extra stimulus money sent to 700,000 people who filed 2020 tax returns

The third stimulus effort so far has put more than $379 billion into bank accounts,…

The third stimulus effort so far has put more than $379 billion into bank accounts, wallets and, yes, cash registers as many people spend their stimmy. 

Some people who already received the third stimulus payment were shocked to receive extra money in recent days.

Nearly 700,000 supplemental payments this week went to people who earlier this year received a stimulus payment based on their 2019 tax returns.

But now this group received extra money, either a new or larger payment, after their 2020 income tax returns were processed by the IRS.

Stimulus payments are based on income as well as qualifying dependents. 

These “plus-up” payments in the most recent batch had a value of nearly $1.2 billion.

The third set of Economic Impact Payments offer up to $1,400 each for those who qualify.