This article reports six experiments in which participants made speeded binary decisions about letter strings that were displayed for 100 vs. 300 ms at different retinal eccentricities in the left vs. right visual field to examine how these variables and task demands influence word-identification accuracy and latency. Across the experiments, lexical-processing performance decreased with eccentricity, but to a lesser degree for words displayed in the right visual field, replicating previous reports. However, the effect of eccentricity was attenuated for the two tasks that required “deep” semantic judgments (e.g., discriminating words that referenced animals vs. objects) relative to the tasks that required “shallow” letter and/or lexical processing (e.g., detecting words containing a pre-specified target letter, discriminating words from nonwords). These results suggest that lexical and supra-lexical knowledge play a significant role in supporting lexical processing, especially at greater eccentricities, thereby allowing readers to extend the visual span, or region of effective letter processing, into the perceptual span, or region of useful information extraction. The broader theoretical implications of these findings are discussed in relation to existing and future models of reading.