Getty Will there be a second COVID-19 stimulus check, but what would it look like, and what is the HEALS Act?
Some people didn’t get the extra $500 they were supposed to get with the first round of COVID-19 stimulus checks. That amount was allotted for each qualifying dependent. The government is sending out those missing $500 checks in early August.
When will you get the checks if you’re one of the parents missing one or more? According to the IRS, the government began sending out the missing $500 checks on August 5, 2020 through direct deposit. Those who require paper checks and debit cards will be sent them on August 7.
“The IRS will automatically issue the additional $500 EIP per qualifying child to affected individuals in early August for those who used the Non-Filers tool before May 17, 2020,” the IRS wrote. “…You can use Get My Payment to check the status of the $500 EIP per qualifying child, and you will receive another notice in the mail letting you know the $500 EIP per qualifying child was issued.”
The news comes as Congress reaches its August 7 recess date while still negotiating a second stimulus relief plan which could see qualifying American receiving another $1,200. Democrats and Republicans have been divided over other measures in the plan, such as the $600 in extra weekly unemployment benefits. The second relief plan could see some parents get an extra $500 for children who didn’t qualify the last time around.
Here’s what you need to know:
You Can Check the Status of Your Missing Money on the Get My Payment Tool
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The IRS confirmed in a statement that the agency “will automatically issue additional $500 EIP per qualifying child to affected individuals in early August. Direct deposit payments are scheduled for August 5, 2020, and paper checks or debit cards are scheduled to be mailed August 7, 2020.”
“The IRS corrected the programming error on May 17, 2020. For individuals who used the Non-Filers tool on or after May 17, 2020, the EIP they received included the additional $500 per qualifying child.”
“You can use Get My Payment to check the status of the additional $500 EIP per qualifying child. You will also receive another notice in the mail letting you know the additional $500 EIP per qualifying child was issued. Keep this letter for your records,” the IRS wrote. “If you received your EIP by direct deposit, the additional $500 EIP per qualifying child will be deposited to the same bank account. If you received your EIP in the mail, the additional $500 EIP per qualifying child will be mailed to your address of record.”
See scenarios for the Get My Payment tool here.
The Second Stimulus Check May Include Payments for Adult Dependents
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According to Fox Business, the Republican plan, which still needs to come to a vote, would give many Americans another $1,200 check using almost the same guidelines as last time. Those earning under $75,000 would qualify for the $1,200, whereas those earning up to $99,000 would get gradually smaller amounts.
However, there’s one change that would mean many Americans could see some cash, although in a smaller amount.
According to Fox Business, this time, families who have adult dependents (those over age 17) would get an extra $500 for each dependent. This would allow parents of adult college students, for example, to get the payment for each child, as long as they remain an adult dependent. As Forbes pointed out, the additional $500 has “no age cap, which helps high school students, college students and other adult dependents.”
According to Forbes, the Democrats’ second relief plan would include $1,200 for dependents, which includes college students. However, the final version needs to get through the GOP-controlled Senate.
“A married couple with two children could receive up to $3,400,” Fox explained of the Republican plan.
There was another big sign that a second round of stimulus checks could bring more money to people. President Donald Trump said in a recent interview in Texas that the checks might be “way higher” than the $1,200 sent out to many Americans last time. “The Democrats are holding back the $1,200 to $3,400 (family of four) checks that were ready to be sent out!” Trump tweeted on July 31
Not all adult dependents are college students. However, many are.
The HEALS act, which is the name of Senate Republicans’ second stimulus relief proposal, would fix that. It “includes just a few people that were unintentionally left out of the last one. Mostly dependents, college and adults, that are somebody else’s dependents,” Republican Senator Chuck Grassley said on July 27.
The key language that would mean some Americans could see more than $1,200: “A dependent of any age” would qualify a person for the extra $500.
According to CJNet, in the first round of checks, “the cutoff to receive a $500 dependent check was age 16 and younger and college students under 24 were not eligible to receive a check.”
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