Stimulus payments

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The U.S. Treasury has begun issuing its second round of stimulus payments. People who do not receive a direct deposit by early January should look for either a check from IRS or Economic Impact Payment (EIP) debit card in the mail. People will not necessarily be paid the same way they received their first stimulus payment.

How to identify the card: The envelope will have a return address of Money Network Cardholder Services, PO Box 247022, Omaha, NE 68124. This is not a scam.

Most individuals will receive $600 and $1,200 for married couples filing a joint return and $600 for each qualifying child. New: Couples filing jointly with just one member of the couple with a work-eligible Social Security Number will now be eligible for payments for the taxpayers and their qualifying children.

People do not need to take any action right now to receive their stimulus payment. Eligible individuals who do not receive their payment or who did not receive their first stimulus payment can claim it (under the Recovery Rebate Credit) when they file their 2020 tax return this year. People who do not normally file tax returns should also file a 2020 tax return if they do not receive their stimulus payment.

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