The timing may be more challenging this time around, but Howard Gleckman, a senior fellow at the Urban-Brookings Tax Policy Center, said the IRS could start receiving money in January.
In March, Congress provided tr 1,200 per child in direct payments under the tr 2 trillion carriage act and 4 4,400 plus ને 500 in conveyance to couples.
As in the first round, the new payments will start in phases for individuals with an adjusted total income of more than $ 75,000 and those earning more than ,000 99,000 will receive nothing. The income threshold for couples will be doubled.
Who gets the fastest money?
Payments don’t go out all at once. Who has bank information The first money will probably be found on the file with the IRS as it will be credited directly to their account. Others will receive a paper check or prepaid debit card in the mail.
IRS under pressure
Additional investigations may be delayed The start of the 2020 tax filing season.
The second stimulus check means the agency will have to make changes to the tax return form, some of which has been sent to printers.
December is not the ideal time to add to the IRS workload. It is usually the month when work is done in preparation for the next filing season and more employees may be on leave due to the holiday.
“I believe the IRS will deliver the stimulus test in a timely manner. It could be at the expense of the start date of the filing season,” said Chad Hooper, executive director of the Association of Professional Managers, which advocates for more than 20,000,000 non. -Union IRS workers.
The story has been updated with details of the Covid-19 relief and government funding bill signed into law by President Trump on Sunday.
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