Some Mississippians got lucky on St. Patrick’s Day when the $1,400 stimulus relief payment appeared in their bank accounts.
The Treasury Department said about 90 million payments totaling $242 billion has been sent out since President Joe Biden signed the $1.9 trillion American Rescue Plan on Friday.
People who provided direct deposit information on their 2019 or 2020 tax returns began seeing payments as early as Saturday with a bulk of payments appearing as pending in most traditional bank accounts on Wednesday. Included in the drop were people who don’t typically file a return but who used a non-filers tool at IRS.gov last year to be included in two earlier rounds of COVID-19 relief payments.
Those without direct deposit will have either a check or debit card sent via mail in the coming weeks. No action is needed by most taxpayers to receive the payments, which will be automatic and similar to how people received their first round of $1,200 and second round of $600 economic impact payments in 2020.
Stimulus check payments can be tracked at irs.gov/coronavirus /get-my-payment.
In addition to direct payments to individuals, the rescue plan included large child tax credits, federal unemployment benefit extention, more money to help small businesses stay open, funds for vaccinations and state and local funding.
The City of Corinth will receive $3.26 million, while $7.17 million is coming to Alcorn County.
Seperate from local funding is the $1.78 billion coming to the state of Mississippi.
Those monies can be used in more ways and spread over a longer period this time compared to previous pandemic-related federal funds.
It can’t be used to offset lost revenue from tax cuts like the one Speaker of the House Philip Gunn is pushing that would end state income tax, cut grocery taxes and increase sales tax.
Gunn and Lt. Gov. Delbert Hosemann has said no plans are in place on how to spend the American Rescue Plan funds, but the legislative session could be extended for lawmakers to meet and vote on how it should be divided.