Could a Second Stimulus Check Be In The Works?
The first round of stimulus checks from the IRS were sent out almost three months ago now. However, some feel that the first stimulus check was not enough to take care of their monthly expenses let alone rent or a mortgage payment.
The economic impact of The Coronavirus has been felt by many and has begged the question time and time again if there will be a second round of payments in the near future.
As of the time of writing this, The Senate and The President have yet to come to an agreement on the HEROS Act that was already passed by The House back in May that discussed sending out a second stimulus payment.
But the second round of stimulus checks might be sent out to fewer people than the first round covered according to CNET.
"Senate Majority Leader Mitch McConnell has said that if his chamber passes another relief bill that includes more stimulus checks, the focus will be narrow"- CNET.
Here are the current proposals for people that would qualify for the second stimulus payment if it is passed.
- Individuals who made less than $99,000 according to the adjusted gross income from their 2018 or 2019 taxes (whichever was most recently filed).
- College students, dependents over 17, disabled relatives and a taxpayer's parent.
- Families of up to five people.
- SSDI recipients
- People who aren't US citizens and file tax returns, pay taxes, and otherwise comply with federal tax law using an individual taxpayer identification number (ITIN) instead of a Social Security number.