IRS Sends 25 Million Economic Impact Payments

The Internal Revenue Service said today that it has issued another 25 million economic impact payments with a value of more than $36 billion in the fourth batch of payments. A majority of these payments went to Social Security recipients and others who do not normally file a tax return.

The IRS has now sent approximately 156 million payments, with a total value of about $272 billion, since payments began on March 12. In the most recent round of payments, the IRS sent 24 million direct deposit payments, with a value of more than $33 billion, and more than 1 million paper check payments, with a value of about $3 billion.