The second round of Economic Impact Payments are being distributed as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. On December 31, SAFE accelerated all direct deposit Economic Stimulus Payments we received that were dated for January 4. We have no information on whether the government will be sending additional payments for direct deposit. The IRS will continue to issue payments by check and pre-paid debit card over the next six to eight weeks. Also, we have learned that the IRS sent millions of Economic Impact Payments to tax preparers in error. If you reveived a payment during the first round of stimulus payments issued early last year, and you use a tax preparer, we recccommend you contact your tax preparer for more information.For the latest information, consult the official IRS link:

Visit IRS.gov

SAFE has answered some of your most commonly asked questions regarding the new legislation and direct payments below.

Stimulus Payment FAQs

What is a stimulus payment?
It's a non-taxable, direct payment that can be used however you want and does not need to be repaid to the government. 
 
Why is there another round of stimulus payments?
On Sunday, December 27, President Trump signed off on a $900 billion coronavirus relief package that included an additional $600 stimulus payment to qualifying Americans.
 
Will I get a second stimulus payment?
There are a few factors that play a role into whether you'll get a payment:
  • If you have a Social Security number- If you are married to someone who does not have a SSN, and you file your taxes jointly, you're still eligible for payment.
  • If you filed taxes in 2018 or 2019- the most recent tax return must show an adjusted gross income (AGI) BELOW $75,000 for single filers, $112,000 for heads of household, or $150,000 for married or joint filers to get the full $600 payment.
  • If you did not file taxes- because your income was too low, you get the maximum payment of $600 per adult and dependent under the age of 17.
  • If you receive federal benefits- like Social Security retirement or disability, Supplemental Security Income, or Veterans Affairs benefits, the IRS will use this information to determine the amount and delivery method of your payment. 
How much will I get?
The relief package authorizes a $600 stimulus check for adults under a certain income limit, plus an additional $600 payment for each qualifying dependent under the age of 17. 
 
What are the income limits to get a stimulus payment?
Individuals with an Adjusted Gross Income (AGI) of up to $75,000 are eligible for the full $600 payment. That amount will decrease incrementally for incomes greater than that and will phase out completely if you make an AGI of $87,000 or more.
 
If you file taxes as head of household and earn up to $112,500, you're eligible for the full $600 payment. The payments phase out completely at $124,500.
 
If you are married and file your taxes jointly with your spouse, you'll receive a total payment of $1,200 with an AGI of up to $150,000. That payment would phase out completely with an AGI of $174,000 or more.
 
When will I get my second stimulus payment?

On December 31, SAFE accelerated all direct deposit Economic Stimulus Payments we received that were dated for January 4. We have no information on whether the government will be sending additional payments for direct deposit. The IRS will continue to issue payments by check and pre-paid debit card over the next six to eight weeks. For the latest information, consult the official IRS link:

More Info From IRS.gov
 
How will I get my payment?
You're likely to get your second stimulus check the same way you received your first payment earlier this year—by direct deposit, paper check, or pre-paid debit card. If you receive federal benefits, you'll get your second stimulus the same way you receive your benefits.
 
Is there anything I need to do to get my payment?
The second round of stimulus payments will be distributed automatically, with no action needed for eligible recipients. 
 
What if the amount of payment is increased?
If additional legislation is passed to provide an increased amount, Economic Impact Payments that have already been issued will be increased as quickly as possible.
 
What if I didn't get the first stimulus payment?
If you didn't receive a check during the first round of payments issued in April, you may not have qualified. You need to be a US citizen or resident alien with a Social Security number, and not be claimed as a dependent by another taxpayer. If you meet those requirements, but did not get a check the first time, your income may have disqualified you. Your Adjusted Gross Income for that payment had to be less than $99,000 for single tax filers, $136,500 for heads of household, or $198,000 as a joint filer to get the first payment.
 
If your income didn't fall within those guidelines in 2018 or 2019, but it did in 2020, you can claim your payment through a Recovery Rebate Credit on your 2020 tax return.
 
More Info About Recovery Rebate Credit
What if I received a stimulus payment last time, but have not received this one?
SAFE has learned that the IRS sent millions of Economic Impact Payments to tax preparers in error. If you reveived a payment during the first round of stimulus payments issued early last year, and you use a tax preparer, we recccommend you contact your tax preparer for more information.
 
How can I avoid a stimulus payment scam?
Beware of COVID related scams. Never give out your personal information—even if someone claims it is necessary to get your second direct stimulus payment. Keep in mind:
►The government will never ask you to pay anything up front to get your stimulus money
►The government won't call, text, email, or contact you on social media to ask for your Social Security, bank account, or credit card number.
►There's no such thing as getting your money early, or faster. Anyone who says they can pay you now is a scammer.
Visit the Federal Trade Commission's website for more information on protecting yourself.
 
How to protect yourself
Where can I get more information?
If you need additional information about Economic Impact Payments, visit the IRS webisite here:
 
Visit the IRS Website