The Consolidated Appropriations Act (CAA), signed into law on Dec. 27, provides relief in response to the COVID-19 pandemic with another round of “recovery rebate” payments to individuals.
The new round of stimulus checks will be in varying amounts based upon IRS criteria. Eligible individuals may begin to receive these stimulus payments as early as the first week of January, 2021. Those who don’t receive direct deposits can expect to receive payment via paper check, delivered over several weeks beginning in January 2021.
If you have questions regarding your eligibility or the criteria for stimulus payments, please visit IRS.gov/coronavirus to learn more. Please note: the IRS site will be updated as new information becomes available; please check back periodically.
The Rudler, PSC Team continues to monitor ongoing Covid-19 legislation. To better understand how the changes impact your unique situation, please contact your Rudler, PSC advisor at 859-331-1717.
Disclaimer: Please note this is based on the information that is currently available and is subject to change.
RUDLER'S TAX MANAGEMENT & PLANNING TEAM
This e-Tip is presented by Suzanne Danks, CPA.
If you would like to discuss your particular tax situation, contact Suzanne at 859-331-1717.
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