March 01, 2021

Westerman Wrap-up 01.22.21

Jan 22, 2021 | ,

Westerman-Banner Westerman Wrap-up 01.22.21 Politics Top Stories [your]NEWS

Friends,

As your congressman, I am pleased to inform you that in December, Congress passed and former President Trump signed into law the latest COVID-19 relief package. This package included more than $900 billion in aid to reopen and strengthen the U.S. economy, as well as an additional round of $600 economic impact payments (EIP) that will be paid directly to Americans in need.

The Internal Revenue Service (IRS) began sending these payments the last week of December and will continue throughout the following weeks.

How will I receive my second economic impact payment (EIP)?

  • Eligible individuals who chose direct deposit when filing their 2019 income taxes will receive their payment via direct deposit.
  • Those who are not set up via direct deposit will receive either a check or a debit card by mail.

Do I have to apply to the IRS to receive my EIP?

  • Payments are automatic for those who filed 2019 income taxes, those who received Social Security retirement benefits, survivor or disability benefits (SSDI), Railroad Retirement benefits, Supplemental Security Income (SSI), and Veterans Affairs beneficiaries who did not file a tax return.
  • Those with direct deposit could see payments in their account as early as the last week of December 2020.
  • Those without a payment via direct deposit should monitor their mail for a check or debit card.

Who is eligible for the second EIP?

  • U.S. citizens and qualifying residents with a Social Security Number (SSN) who are not eligible to be claimed as a dependent on someone else’s income tax return are eligible for payment.
  • Those individuals with adjusted gross income of up to $75,000 and married couples earning up to $150,000 will receive the full amount, as well as an additional $600 for each qualifying dependent under the age of 17. Those individuals or couples whose income exceeds their respective thresholds will have reduced economic impact payments.
  • EIPs phase out completely for individuals with incomes over $87,000 and married couples with incomes over $174,000.

If I do not receive an automatic payment, how can I claim the second economic impact payment?

  • To see the status of your EIP, please visit the IRS’s Get My Payment website.
  • Eligible individuals who do not receive the first or second EIP may claim it when they file their 2020 taxes in 2021.
  • Eligible individuals who did not receive the first or second EIP and do not normally file taxes will need to file taxes this year to receive the rebate.
  • The EIP will be referred to as the Recovery Rebate Credit on Form 1040 or Form 1040-SR.

To learn more about the second round of EIPs, please visit the IRS’s website. I hope this information is helpful and that you will reach out if you have questions. If you or someone you know is having trouble with the IRS, Department of Veterans Affairs, the Social Security Administration, or any other federal agency, please contact my Hot Springs office at (501) 609-9796, or Pine Bluff office at (870) 536-8178. I also encourage you to visit my website at westerman.house.gov to stay informed on what I am doing in Congress or to sign up for my newsletter.

Until next week,
Westerman-Banner Westerman Wrap-up 01.22.21 Politics Top Stories [your]NEWS
Bruce Westerman
Arkansas’ Fourth District

 

 

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