In spite of a bit of controversy, the IRS began depositing Economic Impact Payments on Tuesday (12/29/20). The official payment date is January 4, 2021.
Generally, the following are eligible for the second EIP:
- You were not claimed as a dependent on someone else's 2019 tax return.
- Your adjusted gross income was $75,000 (filing individually), or $150,000 (filing jointly).
- If your adjust gross income is over the above thresholds, your EIP will be reduced.
Read the IRS statement here.
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