And, the IRS is reminding taxpayers not to contact their financial institutions or the IRS with payment timing questions. Eligible individuals will receive checks of up to $600 for individuals ($1200 for married couples) and up to $600 for each qualifying child. As with the first round of stimulus checks, most folks will receive payment by direct deposit. That said, the IRS notes that the form of payment for the second stimulus check may be different than for the first stimulus check. Information included with the card will explain that this is your Economic Impact Payment or stimulus payment.

Source: Forbes December 30, 2020 17:15 UTC