IRS says about 88M Americans have gotten stimulus payments

Most of those receiving the payments filed their tax returns this year or last year, though millions not typically required to file are also eligible.

IRS says about 88M Americans have gotten stimulus payments

More than 88 million economic stimulus payments were issued as of April 17, according to data released by the Treasury Department and IRS today.

About $158 billion was distributed to nearly 88.2 million taxpayers nationwide over the first three weeks of the program, which was enacted to help individuals and families in the coronavirus pandemic.

Most of those receiving the payments filed their tax returns this year or last year, though millions not typically required to file are also eligible and some are automatically getting the payments because they participate in other federal benefits programs.

On a per-state basis, residents of California, with the nation’s largest state population, received the most, followed by Texas, Florida and New York.

The payments are up to $1,200 for individuals, $2,400 for couples and an additional $500 for each dependent child. They start phasing out for individuals earning above $75,000, or $150,000 for couples.

Ultimately, more than 150 million payments will be sent, with most of the initial payments reaching recipients via direct deposit. Those getting paper checks because the IRS doesn't have their financial information on file will wait longer — Treasury doesn't anticipate getting all checks out until September.

The IRS encouraged those seeking updates on their payments to visit its website.

Source : Politico USA More