President Donald Trump has signed off on the second round of the coronavirus relief package worth $900 billion, which also includes direct payments to Americans amounting to $600 checks.
A relief package worth $900 Billion was passed to better the lives of the Americans who are enduring financial setbacks in the wake of the Pandemic. In addition, President Donald Trump approved the distribution of $600 checks for each household. The circulation will begin tonight.
According to the Treasury Secretary, Steve Mnuchin, the checks will be directly deposited in accounts whereas the paper checks will be sent out to the recipients by Wednesday.
As IRS is responsible to ensure everyone receives the relief checks. The Internal Revenue Service has introduced the ‘Get My Payment’ tool on its website to guide people about the status of their stimulus checks.
According to a Treasury announcement, the Get My Payment portal is currently not working. However, it will go live this week and people will be able to track the status of their checks.
During the announcement, it was also highlighted that eligible people do not need to register themselves on the portal to receive the amount. Instead, all those who fulfill the criteria will automatically receive $600 checks. Moreover, if the amount increases to $2000, the remaining amount will also be delivered to them as soon as the bill passes.
Donald Trump wants this increase because he believes that $600 is not enough for the people to carry out their expenses. Apart from this, many Senators, including David Perdue, Kelly Loeffler, and Marco Rubio have shown their support with this stance.
The proposal was passed in the House, however, the Senate has not yet decided on the matter. Senate Majority Leader Mitch McConnell implied that he wants the larger amount to be utilized on other problems such as revoking liability protections for various social media outlets.
According to the president of the National Taxpayers Union, people will receive the stimulus checks faster this time, as IRS is better prepared, as they have the information already stored in their database due to the data collection done in March.
The IRS has explained that people will be receiving the checks through direct deposit. However, if someone received their checks through paper or debit card last time, the same method will be employed this time as well but the debit card and paper might be interchanged.
The rules and regulations of the stimulus checks are similar to the first round; however, the amount for child dependents has increased by $100 this time.