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1 1 (January 22, 2021)

handle is hein.crs/goveblp0001 and id is 1 raw text is: a Congressional SResearch Service COVID-19 and Direct Payments to Individuals: Comparison of the Second Round of Stimulus Checks in P.L. 116-260 to the First Round in the CARES Act (P.L. 116-136) Updated January 22, 2021 At the end of 2020, lawmakers included a second round of direct payments in the Consolidated Appropriations Act, 2021 (PL. 116-260). The payments equal $600 per eligible individual ($1,200 for most married couples) plus an additional $600 per eligible child, phasing down for higher-income households. The first round of direct payments was enacted in the CARES Act (PL. 116-136) in March 2020. As with the first round of direct payments, the second round of payments are structured as anew one-time refundable credit against 2020 income taxes. Generally, these payments are being automatically issued by the Treasury based on 2019 tax data until January 15, 2021. Eligible households who do not automatically receive a second payment (or who receive less than they would based on their 2020 income and family size) are to generally be able to receive the payment (or receive an additional payment) as a refundable credit when they file their 2020 income tax return. These payments are not taxable and do not count as income or resources for a 12-month period in determining eligibility for, or the amount of assistance provided by, any federally funded public benefit program. Table 1 summarizes the second round of payments and compares them to the first round enacted in the CARES Act. Table 1. Major Provisions of First and Second Round of Direct Payments First Round of Direct Payments Second Round of Direct Payments (CARES Act P.L. 11 6-136) (P.L 1 16-260) Payment amount $1,200 per eligible individual $600 per eligible individual $2,400 for married joint filers $1,200 for married joint filers Congressional Research Service https://crsreports.congress.gov IN11576 CRS INSIGHT Prepared for Membersand Committeesof Congress

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