The IRS has now sent out about $112 billion electronically in the second round of individual stimulus payments, according to a—that means that two-thirds of the total direct payments have reached bank accounts in a little more than a week, significantly faster than the distribution of the first round of stimulus payments under the CARES Act passed in March.
The Treasury Department began sending out these payments on December 29, two days after President Trump signed the most recent stimulus bill into law. Wall Street JournalThe new payments are smaller than the first round authorized by the CARES Act in March, which were $1,200 per individual and $500 per child, though the income thresholds remain the same, with the amount of payments phasing out slowly above those thresholds.
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There are huge glitches this time, check the comments on the irsnews page.
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