Second stimulus check update
Chief Tax Information Officer Mark Steber shares up-to-date information about the second Economic Impact Payment and what you need to do regarding your tax records.
WHERE IN THE WORLD IS MY SECOND STIMULUS?
Wondering about the status of your new stimulus payment from the IRS? Just answer a few questions to find out how you will be getting it!
Chief Tax Information Officer Mark Steber shares up-to-date information about the second Economic Impact Payment and what you need to do regarding your tax records.
Get important information about state, federal, and other tax implications.
UPDATED ON: December 28, 2020
The much-anticipated emergency COVID-19 economic relief package was signed into law on December 27, 2020, after leaders of both parties in the U.S. Congress, along with the White House, reached an agreement on several pro-taxpayer provisions of the omnibus package.
UPDATED ON: January 11 2021
An emergency COVID-19 economic relief bill was signed into law on December 27, 2020. Here’s what taxpayers need to know about the new law.
UPDATED ON: December 23, 2020
Traditionally, freelancers and gig workers have been unable to claim unemployment benefits. Independent contractors and their clients don't pay into state unemployment funds by default. However, with the unprecedented situation that the COVID-19 pandemic has created, self-employed workers who otherwise wouldn't normally qualify for unemployment may now be eligible for payments.
UPDATED ON: December 23, 2020
In late December 2020, Congress passed the Omnibus Spending Bill which included the COVID Tax Reform Act of 2020 (COVIDTRA 2020). It’s an extension to the CARES Act designed to provide additional help to protect businesses and individuals from the economic effects of the Coronavirus.
UPDATED ON: December 23, 2020
As the federal government manages its on-going and rapidly evolving response to the coronavirus epidemic, a variety of solutions including an additional $300 unemployment per week, an extension to March 12, 2021 for self-employed taxpayers to collect unemployment, and extension implementing paid leave for some workers and tax credits for small businesses, and an additional $900 billion stimulus plan to continue to bolster the U.S. economy has been passed as part of the 2021 budget. As a part of the recently passed COVID-Related Tax Relief Act of 2020 (COVIDTRA 2020), qualifying taxpayers should receive a second stimulus check in the near future.
UPDATED ON: December 23, 2020
The IRS will be depositing the second round of stimulus checks for all Americans receiving Social Security, Railroad Retirement, and Veteran’s Administration benefits into the same accounts as their benefit payments. This is the same process used for the first stimulus payment.
UPDATED ON: December 23, 2020
With the Federal Government’s national recommendation to stay at home affecting businesses across the country, it may be time to file your taxes if you haven’t already done so. Remember, the majority of Americans filing taxes receive refunds, and additional funding during this time of uncertainty could provide you and your family with greater peace of mind.
Tax rules are changing quickly in response to COVID-19. See what the IRS has to say.
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