The new stimulus act – What’s in it for you?

The American Rescue Plan of 2021 was signed into law today. Here’s a summary of what’s included. Round 3 of Stimulus Payments Subject to the below limits, individuals will receive a $1,400 payment, couples $2,800. Also, in this round dependents receive $1,400, including adult dependents. Similar to the last two rounds of stimulus, payments begin …

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Families with ITINs eligible for stimulus checks

When the first round of stimulus checks, known as the Economic Impact Payment, were issued in 2020 families who filed a joint tax return were not eligible if one spouse had an Individual Tax Identification Number (ITIN) instead of a Social Security Number (SSN). This left many families out, especially those families with one spouse …

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Your stimulus check is in the mail

The Internal Revenue Service has fired up the printers to get stimulus checks into American’s pockets. They began processing the payments yesterday. The official payment date is January 4, 2021. The economic impact payments are part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 signed into law on Sunday night. The act …

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