After months of waiting, the Republican proposal for a new stimulus package has finally been unveiled and it includes a vital lifeline for many Americans: a second $1200 stimulus check. How will it be sent?
A new stimulus check has now been confirmed and the amount and income threshold follow the criteria of the CARES Act. There is a change, anyway in who it considered as eligible dependents. Unlike the bill passed in March, this new legislation would include dependents regardless of age, thus including children over 17, college students under 24, and older people.
People who make $ 75,000 a year or less, for example, received the full amount, and for people who make more than $ 75,000 and - and up to an annual gross income of $ 99,000- the amount will be progressively reduced. People who earn more than $ 100,000 a year did not qualify for payment.
The current forms that the Tax Collection Office (IRS) and other dependencies of the Treasury Department use to send the funds are:
1. Direct deposit. Those who filed their tax reports in 2018 and 2019 were made a direct deposit in their provided bank accounts. This is what the IRS encourages for it is the way Americans receive their payment faster. Information for direct deposits must be entered in the Get My Payment IRS enabled tool
2. Sending a check. A check was sent to people who did not have a bank account, but had a physical address and also to those who presented problems with direct deposits in bank accounts.
3. Debit cards. The authority sent debit cards to more than 4 million citizens.
The Democrats' HEROES Act integrates sending payment through applications such as PayPal, but Republicans have not spoken about that option.
Following the schedule of approval of the new aid, it could begin to be sent in mid-August to the first people and it is expected that, given the problems solved with the first shipment, more citizens and families will receive their payment faster.