Haven’t Received Your Second Round Stimulus Check? This May Be Why (Details Inside)
If you haven't received your stimulus check, sit tight because it could still be on the way!
Before Christmas, Congress approved a $600 stimulus payment for every eligible person in the United States. Many people began to see the pending amount in their accounts on December 29th, but the funds became available Monday.
Like the first stimulus check, there are two ways to receive the funds; through the mail in a check form and through direct deposit with your bank.
Many of us are still waiting to receive our $600, but the good news is the payments will continue to be sent through January 15th. According to the IRS, if you are eligible and don't receive the funds by then, you will have to claim it on your 2020 tax return.
Below I have listed four important facts you should know about this second round of stimulus checks:
!) Eligibility is based on income. Anyone earning less than $75,000 a year will receive the full $600.
2) You may not receive the payment the same way you got it the first time. If you were mailed a card the last time, you might get a direct deposit this time.
3) Families will receive $600 per child under the age of 17.
4) The full payment will also go to heads of households earning less than $112,500 and married couples filing jointly earning less than $150,000 a year.
You can check the status of your stimulus payment by visiting Get My Payment tool on the IRS website.