Second Round of Economic Stimulus Payments The Department of Treasury will start sending out a second round of Economic Stimulus Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021.
$600 for individual filers
$1,200 for married persons who filed together
And, an additional $600 for any child under the age of 17, claimed as a dependent.
If you have adjusted gross income for 2019 up to $75,000 for individuals and up to $150,000 for married couples filing joint returns and surviving spouses, you will receive the full amount of the second payment. For filers with income above those amounts, the payment will be reduced or eliminated. Payments are scheduled to be mailed and direct deposited as early as December 30, 2020. They will be received by Direct Deposit, Check, or Debit Card. Who is eligible? Most U.S. Citizens and Resident Aliens who cannot be claimed as a dependent on someone else's tax return are eligible for this second payment. Are payments automatic? Payments are automatic for most eligible taxpayers. No additional action is required on your part if any of the following situations apply to you.
Filed a 2019 tax return
Didn't file a tax return and received Social Security Benefits (Retirement and Disability), Railroad Retirement Benefits, or Veteran Affairs Benefits
Didn't file a tax return and successfully registered using the IRS Non-Filers tool by November 21, 2020
Submitted a Simplified Tax Return (Zero Income) that has been processed by the IRS
If you didn't file a tax return or use the IRS Non-Filer's tool to register, you are still eligible for this credit (if you meet the other requirements). Eligible individuals who did not receive an Economic Stimulus Payment this year (either the first or the second payment) will be able to receive it by claiming the Recovery Rebate Credit on their 2020 tax return. To check the status of your Economic Stimulus Payment go to www.irs.gov/getmypayment.
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