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Second Round of Economic Impact Payments Are on the Way!

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$100 bill with a mask over Benjamin Franklin's face

On December 27, 2021 President Trump signed the long-awaited $900 billion stimulus package and government spending bill.  Included in the bill is a second round of advance rebates for individualsEligible individuals will automatically receive up to $600 ($1,200 for married filing jointly) and up to $600 per 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, you will receive the full amount. 

How Do You Get it?

Payments are automatically scheduled for eligible taxpayers who filed a 2019 tax return as well as those who receive Social Security and who may not be required to file a return.  Payments are also automatic for anyone who successfully registered for the first payment online at IRS.gov.

The Treasury Department began delivering the second round of payments on December 29th.  The amounts will be direct deposited into your bank account if the IRS has that information.  If you don’t receive a direct deposit by early January, watch your mail for either a paper check or debit card. 

Check Status Online

You will be able to check the status of your payment by using the Get My Payment tool on IRS.gov

Problems Getting Your Rebate?

If you didn’t receive a payment this year – either the first or the second one – don’t sweat it!  You will still be able to claim your share of the rebate payments when you file your 2020 taxes.

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