$600 Stimulus Payments Appearing in New Yorker’s Bank Accounts
You may have already received your $600 stimulus payment.
On Tuesday, the Treasury Department and the Internal Revenue Service began delivering a second round of Economic Impact Payments to millions of Americans as part of the implementation of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021.
The initial direct deposit payments started Tuesday night, for some, and will continue into next week, officials say.
“Treasury and the IRS are working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families,” Secretary Steven T. Mnuchin said in a press release. “These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time.”
Paper checks will begin to be mailed Wednesday, Dec. 30. This second round of payments will provide critical economic support to those who, through no fault of their own, have been adversely impacted by the COVID-19 pandemic, officials said.
Eligible individuals will receive an Economic Impact Payment of up to $600 for individuals or $1,200 for married couples and up to $600 for each qualifying child. Generally, 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 amount is reduced.
This second round of payments will be distributed automatically, with no action required for eligible individuals. If additional legislation is enacted to provide for an increased amount, Economic Impact Payments that have been issued will be topped up as quickly as possible.
On Monday the United States House of Representatives voted to increase COVID-19 stimulus payments to $2,000, but that increase faces an uncertain future in the Senate.