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IRS issues 88M stimulus payments in first three weeks; more on the way

IRS issues 88M stimulus payments in first three weeks; more on the way
(Source: WTVM)

On Friday, April 24, the Treasury Department and the Internal Revenue Service (IRS) issued state-by-state figures showing how many Economic Impact Payments have been issued.

The IRS says as of April 17, 88.1 million payments have gone out, totaling almost $158 billion. In Louisiana, 1,265,581 payments have been issued for a total of $2,297,891,337, the IRS says.

IRS issues 88M stimulus payments in first three weeks; more on the way
Economic Impact Payments as of April 17, totals by state. (Source: IRS)

The IRS also says more payments are on the way.

“The IRS, treasury, and partner agencies are working non-stop to get these payments out in record time to Americans who need them,” said IRS Commissioner Chuck Rettig. “Tens of millions of people across the country are receiving these payments, and millions more are on the way. We encourage people to visit IRS.gov for the latest information, FAQs, and updates on the payments.”

The IRS says more than 150 million payments will be sent out, and millions who do not usually file a tax return are eligible. Payments are automatic for those who:

  • Filed taxes in 2018 or 2019
  • Receive Social Security benefits, survivor, or disability benefits (SSI)
  • Receive Railroad Retirement benefits
  • Receive Supplemental Security Income (SSI)
  • Are Veterans Affairs beneficiaries who didn’t file a return in the last two years

ECONOMIC IMPACT PAYMENT RESOURCES

IRS.gov has a variety of tools and resources available to help individuals and businesses navigate Economic Impact Payments and get the information they need about EIP and other CARES Act provisions.

The IRS is seeing a variety of questions about Economic Impact Payments, ranging from eligibility to timing. These FAQs provide an overview and are updated frequently. Taxpayers should check the FAQs often for the latest additions; many common questions are answered on IRS.gov already, and more are being developed.