About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

1 1 (January 22, 2021)

handle is hein.crs/govebln0001 and id is 1 raw text is: Congressional *Research Service COVID-19 and Direct Payments to Individuals: Frequently Asked Questions (FAQs) About the Second Round of Stimulus Checks in P.L. 116-260 Updated January 22, 2021 In response to the continued economic weakness from the COVID-19 pandemic, Congress passed a second round of direct payments as part of the Consolidated Appropriations Act, 2021 (P.L. 116-260). The first round of direct payments were included in the CARES Act (P.L. 116-136). This Insight provides a brief overview of the second round of payments-often referred to as stimulus checks. (The statute refers to the first and second round of payments as recovey rebates, while the IRS refers to them as economic impact payments or EIPs.) Acomparison of major provisions of the first and second round of payments can be found here. How much are the payments? Payments are generally issued per household with the total payment amount based primarily on a household's income and size. Specifically, the payment equals a maximum of $600 per eligible individual ($1,200 for most married couples) plus an additional $600 for each qualifying child under 17 years old. The maximum payment amount phases down for higher-income households at a rate of 5 cents for every dollar over $75,000 if single, $112,500 if single with dependents (i.e., head of household), or $150,000 for most married couples (i.e., married joint filers) as illustrated in the figure below. For example, a married couple with two eligible children and income below $150,000 are to receive $2,400. For a married couple with two eligible children and income over $150,000, the payment amount is reduced and is zero when their income is $198,000 or greater. Congressional Research Service https://crsreports.congress.gov IN11575 CRS INSIGHT Prepared for Membersand Committeesof Congress

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most