Most Americans will soon receive a second COVID-19 economic impact payment (a stimulus check). On December 27, 2020, the President signed into law H.R. 133, which authorizes the Internal Revenue Service (IRS) to send payments directly to eligible taxpayers.

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Who is eligible for a second stimulus check?

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According to the IRS, U.S. citizens and resident aliens who are not eligible to be claimed as a dependent on someone else’s income tax return will receive a second stimulus payment.

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How much money will eligible individuals receive?

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Most checks will be in the amount of $600 per person, or $1,200 for married couples who filed a joint tax return. Additionally, eligible individuals will receive $600 for each qualifying child (dependents who are 17 and older are not eligible for the child payment). However, the payments decrease incrementally for individuals or couples with higher incomes (beginning at $75,000 modified adjusted gross income for an individual or $150,000 for married joint filers).

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How will the payments be delivered?

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Individuals who have direct deposit information already on file with the IRS will receive their payments via direct deposit, while individuals who do not have direct deposit information on file will receive either a paper check or a debit card in the mail.

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When will the payments be delivered?

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The IRS began direct deposits on December 29, 2020 and began mailing paper checks on December 30, 2020. However, due to the delays and backlog the U.S. Postal Service is experiencing, paper checks and debit cards may be delayed.

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Do eligible individuals have to do anything in order to receive their checks?
 

Payments are automatic for eligible individuals, so no action is required in order to receive a payment.

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What if an eligible individual does not receive a second stimulus payment?

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Eligible individuals can track their stimulus payments by using the “Get My Payment” tool, which is available on the IRS’s website, here. If an eligible individual does not receive a second stimulus payment, the individual can claim it as a credit on their 2020 taxes when they file in 2021.

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What if a deceased relative receives a second stimulus payment?

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It is possible that a stimulus payment may be sent to a deceased person. If this happens to a relative or someone you know, the check may need to be returned. If you have questions about this, please contact us and we will be happy to assist you. 

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For more information on the second round of COVID-19 stimulus checks, see the IRS’s website here.

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If you have any questions regarding this article or any other legal matter, please do not hesitate to contact The Broehl Law Office at 330-264-9897.

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