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Second Round of Economic Stimulus Checks – FAQs

On December 29, 2020, the IRS announced that it will be sending a second round of relief payments — also referred to as stimulus checks — to millions of Americans that received them in 2020.

Who is eligible?

  • Households will get $600 per adult and $600 a child, down from $1,200 and $500 in the first round delivered earlier in the pandemic. That means a single parent with two children will get $1,800 now after receiving $2,200 in the spring.
  • The payments start phasing out when individual adjusted gross income exceeds $75,000, when head-of-household income exceeds $112,500, and when income for married couples filing jointly exceeds $150,000.
  • For individuals without children, the payments go to zero when income reaches $87,000; that is $174,000 for married couples.
  • The numbers are generally based on 2019 income.

 When will I get my check?

  • Could be as early as the 4th of January and should be no later than the 15th of January.
  • The IRS has begun printing physical checks as of 12/30/2020.

How can I check the status of my payment?

 What if I did not get a check?

  • Eligible individuals who don’t receive a check or direct deposit by January 15, 2021, will have to request a $600 refund when filing 2020 tax returns.
  • Lower-income workers who wouldn’t otherwise need to file tax returns could possibly miss out on a check if they don’t make a filing.

 Can I supply my Direct Deposit info for this second round?

  • The deadline to supply info has already passed. IRS will use previous banking information.

 What is different than last time?

  • Amount of payments will be lower based on new income restrictions.
  • A much higher percentage of deposits will be direct deposit.
  • Disbursement will begin much more quickly and last no longer than a few weeks.
  • The IRS portal to provide Direct Deposit info will not be available as the deadline has passed.

 What if my payment was returned?

  • If a payment is returned to the IRS for whatever reason, the IRS stated it would take about 14 days for the physical check to get to the member.

Learn more 0n the IRS website.

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