Coronavirus Stimulus Bill, Federal Tax

EIP Update

The IRS and the U.S. Department of the Treasury recently announced that an additional 1.8 million Economic Impact Payments (EIPs) have been disbursed under the American Rescue Plan Act (ARPA). So far under the ARPA, 167 million payments have been disbursed, representing a total value of approximately $391 billion. The IRS will continue to make EIPs on a weekly basis. Ongoing payments will be sent to eligible individuals for whom the IRS previously didn’t have information to issue a payment but who recently filed a tax return as well as to individuals who qualify for “plus-up” payments. Click here to check the status of your EIP. Contact Cg for more information. © 2021