The second stimulus payments have been approved. If you see IRS Treas 310 in your bank account, you received it already. The eligibility requirements for the 2021 stimulus is the same as the first payments.
This time however, individuals will get $600 for themselves and $600 for each qualifying children under the age of 17. For this round of stimulus payments, individuals aren’t eligible for stimulus for dependents over the age of 17.
How will I know I got my stimulus payment?
If you got an extra $600 or more in your bank account, that’s the sign but the sure way to know if you got your stimulus payment is if there has been a payment made by IRS Treas 310 or TaxEIP2. These all refer to stimulus payments. You will see either one of them on your bank account.
I haven’t received my EIP2 yet, what to do?
Head over to the IRS Get My Payment (Where’s My Stimulus) to see whereabouts of your stimulus payment. The IRS helps individuals to track the status of their stimulus payments via this online tool as well as apply and get their payments, hence the name.
Will I get a paper check or debit card?
The stimulus payments are preferably going to be direct deposited to your bank account. If the IRS doesn’t have your bank account information, you may get a paper check or a debit card. By this point, it’s unsure whether or not you will get a paper check or debit card. If you received a paper check, you might receive a debit card this time, or not. It’s pretty randomized.
What’s the maximum income to qualify for EIP2?
The income thresholds are the same as the previous stimulus payments. Single filers with AGI of less than $75,000 qualify for the $600 stimulus while it’s doubled for joint filers. As the AGI is higher than $75,000 or $150,000 depending on filing status, the stimulus payment amount gets reduced.