When Will We Get Second Stimulus Check
- December 24, 2020
- Posted by: admin
- Category: Business
Second Stimulus Check
As the COVID-19, cases are raising each city and state is imposing lockdown measures. It has also increased the unemployment rate. In such an economic crisis, the second stimulus act is a blessing for individuals suffering from economic downfalls. It is expected that Congress will soon pass the HEALS act and provide an unemployment allowance to people who are affected by COVID-19.
If it is passed successfully then it will extend unemployment benefits for another 11 weeks. The package will include $300 per week enhancement, more business protection, more funds for the school, etc. It can help people economically and assist them in getting out of hard and troubling times by providing them financial support.
Such a package can lessen the hardships faced by fellow Americans, stimulus check can stabilize their economic condition and millions of Americans are benefiting from it. The stimulus checks one bill was also signed by the President of the USA.
There are many questions that you might be thinking about stimulus check two. A few of these are listed below.
1. The first question is who will get the stimulus check?
Any resident of the USA who has a valid social security number is eligible to get the stimulus check. It includes factory workers, veterans, business owners, unemployed people, and disabled people. This payment has no restrictions that you have to be an American citizen to get the benefits.
The first round of stimulus does not include mixed-status family members now for in the second package they will also be eligible. If you have a valid social security number and you are unemployed then you can claim the check.
2. How much money you will get?
The HEALS Act is a package of an estimated $900 billion in total. The individual payment is $600 and if your child falls under the criteria then you will get $600 more. It includes dependant children’s. Adult children who are dependant do not qualify for the payment.
If you are a single adult having, a total income of $75,000 or less you will get a $600 payment. Married people who have no kids that have an income of $150,000 or less will get the payment of $1200.
3. What is the process of getting a Stimulus Check?
Similar to the initial round of payments, you likely won’t have to do anything to be given a second payment. Taxpayers who already filed their taxes in 2019 did not need to register or sign up whatsoever to get a payment under the CARES Act. Non-filers simply needed to provide the Treasury Department with the essential information to determine eligibility through a tool on the IRS site. They can also file their taxes by contacting a tax preparation service to do this job for them.
As stated previously, if the IRS currently has your bank account information on file, it will probably just transfer your second stimulus payment to you through direct deposit.
Americans who obtained direct deposit during the first round of obligations seemed to get their payment considerably faster than those who obtained their payment through the mail. In a few instances, the IRS wants your bank account number for electronic transactions of payments, but it’s not clear whether that could be a substitute for your HEALS Act payments too.
4. Check your payment Status Online
Most of the CARES Act Payments have already been obtained by eligible Americans, either via direct deposit as a paper check in the mail or the form of a prepaid debit card.
If you were expecting a payment out of the first economic stimulus package and haven’t received one, you can visit the IRS Website and click on the blue button that says “Get My Payment” to look at the status of Your payment.
In general, this bill will probably be providing a lot of advantages for unemployed fellow Americans. The question is for how long. If these steps to improve our economy, do not work quickly, and do not offer a permanent solution. The situation could get worse. There is more to be done! Unemployment, gasoline prices, and other dilemma need to be cared for until we are free and clear!