Second Stimulus Check and Relief Bill Going into House For Vote ASAP
You can still win up to $10,000 with WOW Country's Cash Cow, deets here.... You can also hope that this second stimulus check from the government comes through. Here is what we know. It could happen before the Nov. 3 election. Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi have agreed to resume negotiations on another relief package. Lawmakers have been saying they wanted to bring this back to the forefront and now it is getting its chance again. Currently the new $2.4 trillion relief proposal is in the House waiting for votes which could happen as soon as Oct. 2. If it passes, the Senate could pick it up and move forward, or, as was the case with the Heroes Act that the House passed in May, could do nothing.
The first stimulus check sent up to $1,200 per adult. If this second stimulus payment passes it will most likely be close to the same but the qualifications for dependents could change and of course, like many, if your financial circumstances have changed since March.
If you are automatically eligible and if you, like me, got your last stimulus automatically by direct deposit. This one will work the same way. They may reach out with questions or clarifications but be careful things like this always put hackers, criminals, and scammers on full force. Make sure you don't answer any personal questions or give anyone personal information over the phone. The IRS will always contact you by mail first. Make sure your current address is updated with the United States Post Office. Instead of a paper check, about 4 million people received a prepaid economic impact payment card in the mail. This is money you can spend like cash on a debit card. The cards came in plain, unmarked envelopes that were prone to being tossed.
The IRS doesn't consider stimulus money to be income, and a payment you get this year will not reduce your refund in 2021 or increase the amount you owe when you file your 2020 tax return. The IRS said if you didn't receive everything you were owed this year, you can claim it as a credit on your 2020 federal income tax return by filing in 2021. The IRS and Treasury Department sent the first round of stimulus payments to recipients in 19 days. Mnuchin has said he could send them much faster this time, once new legislation is signed.