The money is expected to flow faster than the initial round of $1,200 checks that lawmakers approved in March because the Internal Revenue Service and Treasury already have the necessary information — including who qualifies for a payment and how they want their money delivered. Individual adults with an adjusted gross income of up to $75,000 a year on their 2019 tax returns will receive a $600 payment. A couple (or someone whose spouse died in 2020) earning up to $150,000 a year will get twice that amount. There is also a $600 payment for each child for families who meet those income requirements. [Read more about the stimulus checks and how to receive them.]

Source: New York Times December 29, 2020 23:46 UTC