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IRS To Mail 50,000 Stimulus Checks Next Month
The IRS just announced that it will send out 50,000 stimulus checks next month. The "catch-up" Economic Impact Payment relates to a mistake the IRS made in processing the original stimulus payments. Here's what happened.The IRS will offset tax refunds for various reasons, including certain outstanding debts. For example, the IRS will reduce a taxpayer's refund if a he or she has outstanding state income tax obligations. In the case of a stimulus check, the CARES Act provided that the IRS would not offset the payment by such obligations, with one notable exception—past due child support. In the rush to send out ... (full story)