$600 Stimulus Payments Begin Tuesday Night, January 5th

U.S. Secretary of Treasury Steven Mnuchin said Americans will begin receiving $600 Economic Impact Payments as soon as Tuesday night, December 29.

He said the direct deposits payments will be distributed to some Americans tonight and run through the end of next week, while physical checks mailed out Wednesday, December 30.

“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 through a press release. “These payments are an integral part of our commitment to providing vital additional economic relief to the American people during this unprecedented time.”

Individuals with 2019 adjusted gross incomes of less than $75,000, or married couples who earned less than $150,000, will be eligible for this round of payments. There will be $600 distributed to qualifying children, as well. Individuals and couples who earned more than the above amounts will receive a reduced payment.

 

 

 

The payments are being sent automatically using the direct deposit and mail-in information provided to the IRS during the CARES Act stimulus payments back in March.

The Treasury is also providing a link where one may check the status of their payments, although it has not yet been activated.

The payments are part of the $900 billion COVID-19 relief bill that passed Tuesday. The bill will also include additional $300 weekly payments for individuals on unemployment that will run until March 14.

Despite a push from President Donald Trump, President-elect Joe Biden and other Democrat leaders, the Senate rejected the House of Representatives’ amendment to increase the individual payment amount to $2,000, Tuesday