The IRS has churned out 88.1 million stimulus checks so far -- is yours one of them?
The IRS has churned out 88.1 million stimulus checks so far and already paid $157.9 billion — which is more than half the amount of stimulus money that’s been set aside for direct payments to families and individuals across America as the coronavirus outbreak continues.
As part of the CARES Act, which aims to help individuals and businesses to cope with the COVID-19 pandemic’s financial shockwaves, the government is issuing $1,200 payments to individuals with adjusted gross incomes below $75,000. Married couples earning under $150,000 will get $2,400. The program also pays $500 for each child age 17 and under.
The federal tax collector, the agency tasked with distributing $290 billion in stimulus money via direct deposits and paper checks, released the data on Friday. Friday’s tally included breakdowns showing how much money residents in each state have received. The IRS data released Friday reflected payments as of April 17. The IRS started issuing the payments, technically termed “economic impact payments,” around the week starting April 13.
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