Secretary of the Treasury Steve Mnuchin released a statement Tuesday afternoon regarding the status of stimulus checks and, get this: they could be delivered electronically as early as tonight.
“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 statement began. “The initial direct deposit payments may begin arriving as early as tonight for some and will continue into next week.”
The statement continued, “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,” Mnuchin said. “These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time.”
According to the statement, 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.