Many may start to receive $600 stimulus payment today

On Sunday evening, President Donald Trump signed the coronavirus relief bill, which included a second round of stimulus payments for $600. 

The second round of stimulus payments started to arrive via direct deposit yesterday, and paper checks will be mailed on December 30.  

Like the first round of stimulus payments, individuals can utilize the Get My Payment portal to find out their payment status. While the site is temporarily down, the IRS states it should be operating soon.

Most Americans Will Not Need to Take Action

Individuals who filed a 2019 tax return or received benefits, such as Social Security, Railroad Retirement benefits, or Veterans Affairs benefits, will not need to take action at all. Payments for these individuals are automatic. Also, anyone who is not required to file a tax return and previously registered through the IRS NonFiler Portal will not take action at this time.                                                                           

The IRS Will Send Payments Using Information on File                                                     

If you previously provided the IRS with your direct deposit information, the IRS will use this method to send your payment. However, if the IRS does not direct deposit information on file, it will mail a check or debit card payment.                                       

For individuals who receive Social Security income, Railroad Retirement benefits, or Veterans Affair benefits, the IRS will use the same method individuals receive these payments to send the stimulus payments. If you didn’t receive your payment this year, you could still obtain the payment via the 2020 tax return. 

For Those Who Are Eligible but Have Not Received Payment 

If you know you are eligible for the stimulus payment but have not received it, you can claim it on the 2020 tax return in 2021. Keep in mind, the payments are advanced payments and can be claimed as the Recovery Rebate Credit on your 2020 1040 tax return.

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