On December 29, 2020, the second round of stimulus payments began to be distributed to millions of Americans who are in need as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021. This has been a challenging year for all, and this little bit of relief should be helpful for families. The amount that eligible recipients are to receive, according to the IRS website, single individuals will receive $600, a married couple will receive $1,200 and an additional $600 per qualifying child. To determine eligibility, individuals who have a gross income up to $75,000 and couples filing up to $150,000 will receive the full amount of the second payment. Those who file with amounts that are higher than previously listed, will receive a reduced amount.
Individuals who had filed a 2019 tax return, receive Social Security retirement, survivor or disability benefits, railroad retirements, supplemental security income, Veterans benefit payments and those who registered for the first payment online will receive automatic payments. If your first payment was directly deposited, that will remain the same way of delivering that payment this second time around. For those who received a check or changed banks, the IRS will mail a check or debit card.
If you or someone you know is going to receive a check, and they aren’t capable of cashing that check, then they will need a Power of Attorney who could have the power to cash the check. Powers of attorney are an essential document for everyone to have and keep up to date.
We have a developed a unique 19 point health, disability and life planning assessment to put you, your family and friends in the drivers seat. These tools will enable you to take control of your health, disability, life and estate planning now! You can even protect your health, home, spouse, family, legacy and life savings for the rest of your life.
By attending the online sessions you will qualify for $1,475-$2,475 of additional benefits to review your plan with a personalized online or in person meeting. Also, should you decide to implement your plan you can apply benefits towards implementation as well. To learn more about this and other opportunities so you and your family are protected, contact our office now for a consultation 781-237-2815 or register for a free discovery webinar.