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Photo: Jeff Fusco/Getty Images

Over 25 million Americans are to receive the fourth round of COVID-19 stimulus payments this week, sent out under President Biden's American Rescue Plan, the IRS announced Wednesday.

The big picture: More than 156 million payments have been disbursed so far under the relief package, at a cost of about $372 billion. The rollout began last month shortly after the package was passed by Congress.

Zoom in: The fourth batch of payments began processing last Friday, April 2. The official payment date was April 7, "with some people receiving direct payments in their accounts earlier as provisional or pending deposits," per an IRS statement.

  • "The largest block of these payments went to Social Security beneficiaries who didn't file a 2020 or 2019 tax return and didn't use the Non-Filers tool last year," the statement added.
  • "More than 19 million payments, with a total value of more than $26 billion, went to these beneficiaries, which include Social Security retirement, survivor or disability (SSDI) beneficiaries."

Editor's note: The headline and story have been corrected to reflect that 156 million payments total have been sent, and 25 million are being sent in the latest round.

Go deeper

Treasury: Over 156 million stimulus payments sent out since March

Photo: Samuel Corum/Bloomberg via Getty Images

The U.S. Treasury has disbursed over 156 million direct payments worth approximately $372 billion since President Biden signed the American Rescue Plan into law, the agency announced Wednesday.

What to watch: The fourth batch of relief checks — over 25 million payments worth more than $36 billion — is due to start appearing in bank accounts on Wednesday, according to the Treasury.

Updated Apr 12, 2021 - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: The warning signs of a longer pandemic — CDC director: Answer to Michigan COVID-19 surge is "to close things down."
  2. Vaccines: Former FDA chief offers reality check on vaccine passports.
  3. Economy: Jobs growth could be curbed by demands for higher wages.
  4. World: Facebook to push notifications about vaccine eligibility to 20 countries outside of the U.S. — Brits flock to pubs for first time in months as U.K. lockdown eases.
  5. Variant tracker: Where different strains are spreading.
Dan Primack, author of Pro Rata
Apr 7, 2021 - Technology

VCs plow money into creator economy companies

Illustration: Rae Cook/Axios

Venture capitalists are plowing money into startups that help content creators to directly monetize their work.

Driving the news: Patreon, a platform that connects creators with fans, today will announce $155 million in fresh funding at a $4 billion valuation.