![]() On Wednesday, Congress passed a $1.9 trillion COVID relief bill called the American Rescue Plan (Opens in a new tab), which President Joe Biden signed into law on Thursday. Newsweek has a great round-up of options to shore up your financial situation before relief money comes - especially if you're looking at a several-week delay.It's time for the IRS to start pushing those pencils again, because a new round of COVID-19 stimulus checks will be going out to Americans soon.From McNees PA Tax Blog: The checks are not taxable income - they are considered a rebate and you won't be taxed on them federally or in Pennsylvania.How was the $1,200 amount calculated? It's based on the federal minimum wage of $7.25/hour, says The Hill - a number that has not changed since 2009.From Bankrate : The short answer for over a third of Americans receiving money is - no.Will it be Enough? And Other Things to Know Forbes' ' All You Wanted to Know About Those Stimulus Checks But Were Afraid to Ask ' is a great resource and breakdown on how the calculations work, and different methods for money arrival.NJ.com has the breakdown on whether you can track your check, the planned IRS tool to allow Americans to furnish bank or other information, and other details.Time Magazine - this article covers overall timing, and complications around the process for receiving checks. ![]()
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