March 12, 2021
The House and Senate have now passed the latest Covid relief bill, and President Biden signed the bill into law on March 11, 2021. The new law includes stimulus checks to individuals, provides for extended unemployment benefits, child support payments, and many additional provisions including payments to cities, states, and tribes, and to certain large businesses and many small businesses. Additional funds are provided for school reopening costs, expanded tax credits, and food aid. A search for “Corona Virus Relief” or “Covid Relief” will provide a large number of articles with many more details on the bill and the expected impact of the new law.
White House press secretary Jen Psaki said Thursday that some Americans will receive their stimulus payments this weekend, just days after Biden signed the pandemic relief plan into law, the Washington Post reported.
Let’s focus on the individual stimulus checks in this article. The standard amount of the payment is $1,400 per person, so a family of two would get $2,800, and a family of four would get $5,600. There is an income cap for the full amount of the payment. That income cap is $75,000 for single people and $150,000 for married couples filing jointly. The stimulus check amount goes to zero at $80,000 for single filers and $160,000 for couples filing jointly.
Assuming you are filing with the IRS and meet the criteria, payment should go out to you very soon. Prior stimulus payments were issued just a few days after the signing of the bills. Direct deposit will be used for those who chose that option with the IRS. Checks will be sent out for those who did not. The IRS has a special “Get My Payment” tool. As of today, the site is not active for the third payment. Information on the first two stimulus checks is available.
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