A second round of stimulus payments are on the way and many eligible families are expected to receive the money this month.
The money comes nearly eight months after the first round of stimulus payments, worth up to $1,200 per person, were sent as part of a larger coronavirus relief package passed last March. Many of the same people will receive the money again, but there are some small eligibility differences. When and how will the money be sent? Recipients may have seen a direct deposit pending in their bank account as early as December 29, but the funds became officially available January 4. Paper checks or debit cards will be sent to those who don’t already have a bank account on file with the Internal Revenue Service. Checks also began going out last week. Some people may not receive the money the same way as in the first round. If you received a preloaded debit card last year, the payment will not be added to that card. You’ll either receive a new card in the mail or a paper check. The law requires the Internal Revenue Service to stop issuing the payments after January 15.
