The Internal Revenue Service and U.S. Treasury Department have begun delivering a second round of Economic Impact Payments (EIP), or stimulus payments, as a part of the Coronavirus Response and Relief Appropriations Act of 2021.

The IRS began sending the initial round of payments in late December 2020 by direct deposit and by mailing checks or debits cards. Arkansans who received a paper check or debit card in the first round of stimulus payments in 2020 could expect to receive a check or debit card this time also.

The card will be sent in a white envelope that prominently displays the U.S. Department of the Treasury seal.

Most individuals will receive $600 and $1,200 for married couples filing a joint return and $600 for each qualifying child.

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.

Stimulus payments that are received in December 2020 or January 2021 by direct deposit will be automatically protected from garnishment by debt collectors. That is not true of payments that are claimed on the 2020 tax return and paid later in the year as part of the regular tax refund.

Payments are being issued based on information the IRS already has on file, people will not be able to add new bank account information or request to receive their payment by EIP Card.

CLICK HERE for more information.


Click an emoticon to express your reaction to this article.


Recommended for you