Second Coronavirus Stimulus Check — What you need to know

Congress recently voted to authorize another round of stimulus checks due to the economic fallout from Covid-19.

The second stimulus check will be up to $600 per adult and $600 for each child dependent.

A child dependent is defined as a child that is 16 years old or younger. There is no cap on the maximum number of children that you can claim for a stimulus check.

When will you receive the 2nd stimulus check?

Direct deposit

Those that have direct deposit information on file with the IRS will receive their payments as early as Tuesday, December 29, 2020.

Paper checks

The Treasury will begin mailing out paper checks on Wednesday, December 30, 2020.

Who will qualify for the stimulus check #2?

All eligible adults with adjusted gross incomes less than the following will qualify for the full payment:

  • $75,000 for single taxpayers
  • $150,000 for married taxpayers

Those with adjusted gross incomes that are greater than the above will receive a partial payment if their income is less than the following:

  • $87,000 for single taxpayers
  • $174,000 for married taxpayers

Those making more than that will receive no payment.

Those who are claimed as dependents on someone else’s tax return do not qualify for a stimulus payment.

What do I need to do to get a stimulus check?

The IRS emphasizes that there is no action required by eligible individuals to receive this second payment.

Those with direct deposit

As with the first round of payments, the second round will also be sent by direct deposit for those with direct deposit information on file with the IRS.

Those without direct deposit

Those without direct deposit on file with the IRS will receive a check or a debit card in the mail.

Social security recipients

For Social Security and other beneficiaries who received the first round of payments via Direct Express, they will receive this second payment the same way.

How do I check the status of the payment?

You can check the status of the payment using the Get My Payment* tool on the IRS website.

The Get My Payment will let you confirm:

  • That the IRS sent your second Economic Impact payment, also known as a stimulus payment.
  • That the IRS sent your first payment. Some people received their first Economic Impact Payment in partial payments. If you received partial payments, the application will show only the most recent.
  • Your payment type: direct deposit or mail.

If Get My Payment does not provide a payment date, a payment will not be issued and you may claim the Recovery Rebate Credit, if you’re eligible. You must file a 2020 tax return to claim the credit even if you usually don’t file.

The IRS will also issue a notice, or letter, about the second payment. Keep your Notice 1444 with your tax records.

*As of January 29, 2021, the IRS is no longer updating the Get My Payment tool for the first and second stimulus payments, as all payments have been distributed. If you qualified but did not receive a payment, you can claim the Recovery Rebate Credit on your tax return.

How do I change my bank account information or mailing address?

Due to the speed at which these payments are being distributed, the IRS stated that it cannot change payment information, including bank account information and mailing address.

The IRS will use the direct deposit information it currently has for you to deposit the payment. If the bank rejects it, the IRS may mail a paper check or prepaid debit card to your address on file.

Did your payment get deposited into the wrong account or an account you don’t recognize?

If you used a refund advance such as H&R Block’s Refund Transfer option on your last tax return, your refund may have been deposited into a temporary account. TurboTax and other software providers are also dealing with such issues.

H&R Block stated that “the IRS Get My Payment website may display an account number you don’t recognize. If you took a Refund Transfer, it may be reflecting that account number. Check your 2019 return to confirm.”

Update January 10, 2021: the IRS stated it will reissue payments for taxpayers who did not receive the second Economic Impact Payment in instances where the bank account identified in their records has been closed.

This impacts taxpayers whose tax preparation providers followed initial IRS guidance and are now waiting for the IRS to re-process payments related to these accounts.

For people in this group, payments may be issued either as a paper check or as a direct deposit. Taxpayers do not need to take any action or call; this will be done automatically.

Why did I get a debit card this time?

The IRS stated that the form of payment for the second mailed stimulus may be different than the first mailed stimulus.

Some people who received a paper check last time might receive a prepaid debit card this time, and some people who received a prepaid debit card last time may receive a paper check.

What happens if you don’t receive a payment?

For those eligible but who don’t receive all or a portion of their payment for any reason, it can be claimed by filing a 2020 tax return in 2021.

The Economic Impact Payments are an advance payment of what will be called the Recovery Rebate Credit on the 2020 Form 1040 or Form 1040-SR.

On your 2020 tax return, you will get a refundable Recovery Rebate Credit for any portion of the stimulus payment #1 or #2 that you did not receive but should have received.

Update 2/16/21: The IRS announced that all legally permitted first and second round of Economic Impact Payments have been issued. If you didn’t receive your payment, the IRS advises to claim the Recovery Rebate Credit on their tax returns.

Who do I contact for more information?

The IRS states to not call about the second stimulus payment; their phone assistors do not have additional information beyond what’s available on IRS.gov and in the Get My Payment application.

The IRS also advises not to call your financial institution because the payments are made automatically.

You can view additional information about Economic Impact Payments on the IRS website.

26 thoughts on “Second Coronavirus Stimulus Check — What you need to know”

  1. I went to irs.gov getmypayment. The payment # 2 status said We scheduled your payment to be deposited on January 4, 2021 to the bank account below.
    It is January 11, 2021 and the payment has not been deposited and we checked with our bank and the did not receive it yet.

    Reply
  2. How to file for the second Stimulus ? I have a friend that filed for the first stimulus and he didn’t get it. said they need more information and no body every helped him so he gave up. We tried to get the IRS to help and they never did help him he is disabled Veteran has no benefits coming in if you can’t call the IRS who would you call to help him get the the 2nd Stimulus there is no form to help people get this 2nd round of stimulus the IRS site took it down, to file for it. I am sure there are other people that are having the same problem not everybody files taxes and that is all you can find on the site if you can help me I would appreciate it.

    Reply
    • He can file a 2020 tax return even if not required to file. If eligible, he will receive a Recovery Rebate Credit which is a refundable credit. The IRS likely will begin accepting electronic returns between Jan. 15 and Feb. 1, 2021.

      Reply
    • If you used H&R Block’s Refund Transfer option, your refund may have been deposited into a temporary account.

      H&R Block stated that “the IRS Get My Payment website may display an account number you don’t recognize. If you took a Refund Transfer, it may be reflecting that account number. Check your 2019 return to confirm.”

      The company said on twitter that the payments will eventually get to its customers, although there may be a delay.

      Reply

Feel free to leave a comment. DO NOT PROVIDE PERSONAL INFORMATION, as your comment will be shared on irsofficesearch.org.

If you need help with tax debt, consider calling the Tax Debt Relief Hotline* @ (888)219-1718