Treasury and IRS Begin Delivering the Second Round of Economic Impact Payments

Summary

A U.S. Department of the Treasury press release dated December 29, 2020 announcing that Treasury and the Internal Revenue Service will begin delivering a second round of Economic Impact Payments under the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. It says direct deposits may begin arriving that night and paper checks will be mailed starting December 30. Eligible individuals will receive up to $600, or $1200 for married couples, and up to $600 for each qualifying child, with the full amount going to filers with 2019 adjusted gross income up to $75,000 for individuals and $150,000 for joint filers. The release quotes Secretary Steven T. Mnuchin and cites more than $270 billion in earlier CARES Act payments to nearly 160 million Americans.

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U.S. Department of the Treasury

Press Releases

Treasury and IRS Begin Delivering the Second Round of Economic Impact Payments to Millions of Americans

December 29, 2020

WASHINGTON – Today, the Treasury Department and the Internal Revenue Service will begin delivering a second round of Economic Impact Payments to millions of Americans as part of the implementation of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. The initial direct deposit payments may begin arriving as early as tonight for some and will continue into next week. Paper checks will begin to be mailed tomorrow, Wednesday, December 30. This second round of payments will provide critical economic support to those who, through no fault of their own, have been adversely impacted by the COVID-19 pandemic.

“Treasury and the IRS are working with unprecedented speed to issue a second round of Economic Impact Payments to eligible Americans and their families,” said Secretary Steven T. Mnuchin. “These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time.”

Eligible individuals will receive an Economic Impact Payment of up to $600 for individuals or $1200 for married couples and up to $600 for each 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 and surviving spouses, you will receive the full amount of the second payment. For filers with income above those amounts, the payment amount is reduced.

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, Economic Impact Payments that have been issued will be topped up as quickly as possible.

The swift issuance of this second round of payments follows the successful delivery of more than $270 billion in CARES Act Economic Impact Payments earlier this year, providing crucial economic support to nearly 160 million Americans.

Later this week, you may check the status of your payment at IRS.gov/GetMyPayment . For more information about Economic Impact Payments, please visit IRS.gov/EIP .

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