You likely have heard that a second round of Economic Impact Payments (EIPs) has been approved.
The IRS started to distribute the second EIPs on December 29. Direct deposit payments should be deposited within the next two weeks. Distribution of paper checks began on Wednesday, December 30, and should continue through the end of January. If you received an initial EIP, no additional action is required to receive this second payment.
The income criteria for the second round of payments is the same as the first. If you are a U.S. citizen or permanent resident making under $75,000 a year (single) or $150,000 a year (married filing jointly) and are not claimed as a dependent on someone else’s tax returns, you likely will qualify for the full $600 payment ($1,200 married couples).… Read More