Individuals with qualifying children will also receive $600 for each qualifying child, defined by the recently enacted legislation as dependents who are younger than age 17.Īnd like the first round of payments, the amount is phased out based on income. How much COVID-19 relief money could I get? This second round of coronavirus money, dubbed EIP 2, generally is $600 for singles and $1,200 for married couples who file a joint return and surviving spouses. But here's a refresher, in a question-and-answer format, of the delivery system and some more on the new round of payments.ġ. If you got the first economic impact payment, then you're familiar with the distribution system. Since the payments are automatic, the IRS says it won't do you any good to contact the agency or your bank with payment timing questions.Īs for folks who don't have an account at a financial institution, the says it will start mailing paper checks to eligible recipients today. Sorry, but you'll just have to wait for the payment to clear. Some account holders may see the direct deposit payments as pending or as provisional payments in their accounts before the official payment date of Jan. The Internal Revenue Service, which once again is in charge of distributing the economic impact payments (EIPs), says the electronic delivery will continue into next week. 27 as part of the second COVID-19 economic relief measure. The money is the maximum per-person amount authorized by Congress and signed into law on Dec. Some taxpayers awoke today to $600 (or more!) in their bank accounts.
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