For the first round of stimulus, the government also issued payments via paper check and prepaid benefit cards. Will it be direct-deposited, as it was last time?įor many recipients, yes. But people who received their payments by another method often had to wait much longer.
When stimulus checks were approved this year under the CARES Act, it took about two weeks for payments to begin landing via direct deposit. People with incomes just above these levels will receive a partial payment that declines by $5 for every $100 in income.ĭid you make much less money in 2020 than 2019, thus making you eligible for this newest payment even though your 2019 income makes you appear ineligible? When you file your 2020 return, there will be a way for you to claim this money then in the form of a refundable tax credit. People who file taxes using the head of household status and make up to $112,500 also get $600, plus the additional amount for children. There is also a $600 payment for each child for families who meet those income requirements. Individual adults with adjusted gross income on their 2019 tax returns of up to $75,000 a year will receive a $600 payment, and a couple (or someone whose spouse died in 2020) earning up to $150,000 a year will get twice that amount. Stimulus Payments Will I receive another stimulus payment ? For more details on how to get assistance, check out our Hub for Help.
This article will be updated as more details from the measure become available. Here’s a closer look at what the legislative package will mean for you.
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