WASHINGTON (Pakistan Point News / Sputnik - 27th May, 2021) The US distributed 1.8 million Economic Impact Payments under the COVID-19 American Rescue plan totaling $3.5 billion in the past two weeks, the Treasury Department said on Wednesday.
"Today's announcement... brings the total disbursed so far to nearly 167 million payments. They represent a total value of approximately $391 billion since these payments began rolling out to Americans in batches on March 12," a Treasury press release said. "... this includes more than 1.8 million payments with a value of more than $3.5 billion."
Treasury's Internal Revenue Service will continue to make payments under the $1.9 trillion American Rescue Plan on a weekly basis, using information from 2020 tax returns, the release added.
Treasury urged individuals who do not normally file tax returns to file one for 2020 to ensure they get all the benefits they're entitled to under the law.
The rescue plan provides payments of $1,400 for individuals, $2,800 for married couples filing joint tax returns plus an additional $1,400 for each dependent. The payments are limited to individuals earning less than $75,000 a year and $150,000 for couples.
