Second Stimulus Payments

The IRS has already started sending out its second round of stimulus payments for $600 per eligible person. The IRS must stop sending payments by January 15th, so you should see the money soon. If you don’t have direct deposit set up for this payment, set it up ASAP! Right now the website is down as the IRS updates it, but it should be back up shortly. Check the status or update your information here:

The payments are based solely on your 2019 AGI, and the phase-out ranges are a little narrower than they were for the first round of money. If you want to check how much you may be getting you can use the calculator here:

The good news is if you don’t receive the payment you’re due by the January 15th deadline, you can still claim the money through a credit on your 2020 tax return. As a side note, make sure to keep track of both the amounts of the payments you receive as you’ll need that sum to file your 2020 tax return.