Remember the coronavirus relief package passed by Congress in late December? It included a second round of Economic Impact Payments.
According to the IRS, eligible individuals will automatically 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.
The money started landing in people’s accounts on Dec. 29, 2020, and paper checks started mailing on the 30th.
But if you’ve not yet received a direct deposit or a check, you have a couple of options.
First, visit the IRS’s Get My Payment site (https://bit.ly/35RO4cf) to get a status update on your payment. Just be aware that you’ll have to type in your Social Security number at the site.
Also, be sure that you’re eligible.
Those with a 2019 adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns and surviving spouses will receive the full amount of the second payment.
If you are eligible for a check and don’t end up getting one, you can get a credit on your 2020 taxes. Learn about the Recovery Rebate Credit at https://bit.ly/39NQdqQ
The Recovery Rebate Credit either will increase the amount of your tax refund or decrease the amount of tax that you owe for 2020.