It’s time for the IRS to start pushing those pencils again, because a new round of COVID-19 stimulus checks will be going out to Americans soon.
On Wednesday, Congress passed a $1.9 trillion COVID relief bill called the American Rescue Plan. It includes a mandate for a third round of economic impact payments, and things are, once again, different this time around in terms of dollar amounts and eligibility.
The original payments from spring 2020 were up to $1200, while people eligible for the second round from this past winter could receive up to $600.
This third round tops out at $1400 per person, and allows that same amount for dependents — including, for the first time, dependents over the age of 17. What a person receives, however, depends on income. Read more…