The Treasury Department said on June 29 that more than half of the almost $390 billion disbursed in the third round of stimulus payments went to households with an annual income of less than $50,000, while more than 85 percent went to households making less than $100,000 per year.
Another 10 percent of the third round of economic impact payments (EIP), as the relief funds authorized by the American Rescue Plan Act are formally called, went to Social Security, Railroad Retirement Board, and Department of Veterans Affairs beneficiaries whose incomes weren’t large enough for them to be required to file a tax return, as well as to people who used the IRS' online Non-filer tool, the department said in a release.
