Now that the elections are over, members of Congress say they’re ready to get serious about negotiations to reach an agreement on the substance of a new economic relief package. While not everyone will qualify to get a second stimulus payment, there’s a good chance that people who receive Supplemental Security Income (SSI) or Social Security Disability Insurance (SSDI) will be eligible to receive another check.
Details including when the IRS will process more stimulus money and the size of the payment different people could get, including young adults, older adults and retirees, and SSI/SSDI recipients, will be solidified once a bipartisan agreement is in place.
Read more: Joe Biden is president-elect. Here’s his stimulus plan for the US
As we wait for the continuing negotiations for a second stimulus check to gain approval, we’re here to clear up any continuing questions you may have about the finer points of the first direct payment, including how much you were supposed to get if you are on your own or if you have what’s defined as a “child” dependent.
The qualifications for dependents can be complex, especially if there’s a situation involving child support, because there are specific eligibility rules involving parents on both the paying and receiving ends. Some parents who had debts for unpaid child support, for example, found that their stimulus checks (and sometimes their spouse’s) were garnished.
While a second stimulus check is still being bandied around, awaiting resolution, you may still have questions about the finer points of the first payment, specifically how it allotted up to $1,200 per individual adult and $500 per “child” dependent. The eligibility rules concerning dependents are complex, especially for parents who are in child support situations. Knowing the nuances is important to making sure you got the right amount of money in the first check, anticipating how much you could get in the second and explaining if you didn’t get any stimulus money at all, even if you seemingly met all the qualifications.
See, child support situations have specific rules involving parents who owe support payments and those who
PayPal announced that it has been granted a conditional Bitlicense by the New York State Department of Financial Services (NYDFS). The license will enable PayPal to launch a new service that will enable its customers to:
Buy, hold, and sell cryptocurrency (initially Bitcoin, Ethereum, Bitcoin Cash, and Litecoin) directly within the PayPal digital wallet.
Use the cryptocurrencies as a funding source for purchases at its 26 million merchants.
PayPal said there would be no service fees for buying or selling cryptocurrency through December 31, 2020, and no fees for holding cryptocurrency in a PayPal account.
US stocks closed higher on Tuesday as investors awaited fiscal stimulus developments and shrugged off an antitrust lawsuit leveled by the Department of Justice against Google.
House Speaker Nancy Pelosi and Treasury Secretary Steve Mnuchin have been narrowing their differences on a stimulus bill, and continued talks in the afternoon.
Major indexes pared gains in the final minutes of trading after the Washington Post reported that Senate Majority Leader Mitch McConnell told the White House to refrain from striking a stimulus deal before the election.
Shares of Google climbed on Tuesday despite an antitrust lawsuit targeting the company. Tech heavyweights like Facebook, Amazon, and Apple also finished the day higher.
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US stocks rose on Tuesday as investors weighed a series of strong earnings reports, continued fiscal stimulus developments, and an official antitrust lawsuit leveled against