Is there going to be another economic stimulus payment coming out soon?
If, by “payment”, you mean a check or direct deposit in 2009, then the simple answer is “no”. However, the American Recovery and Reinvestment Act of 2009 allows for three types of credits/payments in both 2009 and 2010, which are being referred to as “economic stimulus payments”. The first of these is called the “Making Work Pay” credit, which gives working folks a refundable tax credit of up to $400 each on their 2009 tax returns (in this context, “refundable” means you get the credit even if you owe no tax). As you might suspect, there is a phase-out involved, and that kicks in when income exceeds $75,000 ($150,000 for marrieds filing jointly). Next, there is the “bump up” for qualified jobless folks, who receive an additional $25 per week in unemployment benefits, beginning with the Act’s passing back in February of 2009. And finally, there’s the “lump sum” payment of $250 that was paid to retirees through their regular payor during 2009.
