After a lengthy stalemate, the figureheads of Congress have finally agreed on a new COVID aid package that includes a second round of stimulus testing

Congress pushed through another emergency funding measure on Sunday to avoid a shutdown of the federal government, and a vote on the latest COVID-19 business cycle agreement is expected in both chambers on Monday

The bill is said to include approximately $ 900 billion in expenses, along with more checks, it includes expanded unemployment support and more money for small businesses under the Paycheck Protection Program

Below, Newsweek goes into the details of another round of stimulus testing and some of the relevant questions that will be asked

The Associated Press reports that the stimulus checks are subject to the same income limits as the CARES Act payments, The Washington Post also reported that the income criteria should be the same as the first round

This resulted in people up to 75Earned US $ 000, Received the Full Amount The upper income limit for couples filing tax returns together was 150000 USD

The check amount was then for people up to 99$ 000 or for couples up to $ 198Earning USD 000, gradually reduced Those with incomes above these limits received no stimulus payment

There was no detailed description of how the payments would be phased out this time for those at the top end of the rating, the payments are lower than the last checks distributed at 1$ 200 so the payment slide may change to reflect this

The maximum amount a person can receive as a direct incentive payment under the upcoming proposals is $ 600

In a statement from House Speaker Nancy Pelosi (D-CA) and Senate Minority Chairman Chuck Schumer (D-NY), families will also be supported with payments of up to $ 600 per child

There was no detailed description of how payments will expire for those at the higher end of the eligibility scale who continue to receive funding but at a reduced amount

According to a report by the Government Accountability Office, the Internal Revenue Service distributed 81 million payments by electronic transfer within two weeks of the CARES Act going into effect

As of 31 May 1604 million payments were distributed to those whose details were not on file and the IRS could not send money directly to see their payments take longer to arrive

Chad Hooper, national president of the Professional Managers Association (PMA), which represents managers at the IRS, previously said Newsweek payments for a second round of checks could be smoother because of the work done on the first one

If the admission requirements were the same or similar, “the agency could process all payments faster with further stimulus rounds,” Hooper had said

In June, he told Newsweek, “The CARES Act program has allowed the agency to make direct deposits in less than four weeks Due to the way the agency’s aging mainframe works, this is the fastest we understand. A check could be issued around 2-3 weeks, so I would expect payments to be issued within 4 weeks

“Since the Treasury recently decided to issue debit cards to non-bank taxpayers or taxpayers for whom we do not have bank details, this is yet another population of taxpayers for whom we have direct deposit information and that of the agency Payments will only help with the later issue “

Howard Gleckman, Senior Fellow at the Urban-Brookings Tax Policy Center, told CNN that the timing for this round could potentially be “more challenging”, “but the IRS could probably start pulling the money in January.” p>

Newsweek reached out to the IRS to see how long it is likely to take before another round of stimulus payments is distributed

The congress leaders involved in the recent talks were also contacted for further comments on the stimulus checks

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Stimulus Checking Update, 600 Stimuli

World News – USA – Your stimulus checking questions have been answered

Source: https://www.newsweek.com/second-stimulus-check-update-who-how-much-when-1556292