Treasury, IRS to Begin Sending Second Round of Economic Impact Payments

  

Jessica L. Jeane, J.D., Director of Public Policy & Strategic Communications

December 29, 2020

Treasury and the IRS are set to begin sending a second round of Economic Impact Payments (EIPs) as established under the recently enacted Consolidated Appropriations Act, 2021.  President Trump signed the fiscal year 2021 appropriations and economic relief measure into law, which includes the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, on December 27.

“Today, the Treasury Department and the Internal Revenue Service will begin delivering a second round of [EIPs] to millions of Americans as part of the implementation of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021,” Treasury said in a December 29 press release. “The initial direct deposit payments may begin arriving as early as tonight for some and will continue into next week.”

As for paper checks, those will begin to be mailed tomorrow, Wednesday, December 30, according to Treasury.

“Eligible individuals will receive an [EIP] of up to $600 for individuals or $1200 for married couples and up to $600 for each qualifying child,” as noted in the Treasury press release. “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.” Notably, for filers with income above those amounts, the payment is reduced by certain criteria.

“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, [EIPs] that have been issued will be topped up as quickly as possible.”

The Treasury announcement alludes to the additional $1,400 in stimulus payments, totaling $2,000, requested by President Trump and backed by Democratic lawmakers. The House narrowly passed the Caring for Americans with Supplemental Help (CASH) Act on December 28, which would increase the EIPs to $2,000.

However, a senior Senate Republican aide told NSA on December 29 that the House-passed bill has a significant amount of opposition in the Senate as currently written. Further, Senate GOP leadership, per Trump’s request, is conditioning the stimulus increase upon a pairing with the full repeal of Section 230 of the Communications Decency Act of 1996.

Later this week, taxpayers may check the status of their EIP at IRS.gov/GetMyPayment.

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