A second stimulus check is officially in the works. And the timing couldn’t be better. Starting the new year off with a much-needed stimulus check will help many during these hard times.

Looking for more information about how the second stimulus check can help senior citizens? Look no further.

How much to anticipate?

Each individual will receive an amount determined by their 2019 taxes, NBC reports.

The program is similar to the previous one—the checks are just smaller.

Individuals who made up to $75,000 in 2019 will be eligible to receive $600. While joint filers who earned up to $150,000 can receive $1,200.

Additionally, anyone who earned up to $112,500 and is the “head of household” will be eligible to receive $600. While families are eligible to receive an additional $600 for each dependent under the age of 18 within the household.

Similar to the first stimulus check, the second check will continue to get smaller the further away the income gets from those mentioned above.

If income made during 2020 qualifies the individual for a larger benefit than the income filed during 2019, the differences in payment can be claimed when filing tax returns.

When to expect it?

Steven Mnuchin told CNBC that he expects payments to start going out shortly.

Who is eligible?

Much like last time, there is no need to worry about signing up.

However, to be considered eligible, an individual must have received benefits from Social Security, filed taxes in recent years, or be a disabled veteran.

Another similarity to the last stimulus check, recipients will receive a paper check in the mail if the government has not given their direct deposit information. So, it’s a good idea to make sure the IRS has up to date addresses.

Unlike last time, payments will be made to each eligible individual. That includes those who live in a household with individuals who do not have a Social Security number.

Those individuals previously barred from receiving payments will also be able to claim money from the first round of stimulus checks as part of their tax returns filed next year.

Educational Campaign

There will be assistance offered by the Treasury Department for those with check-related questions. If the wait for the educational campaign is too long, or there is another issue, the IRS’s website is another resource to utilize.

Senior Security Alliance knows how important it is for senior citizens to be financially secure throughout their retirement. And during these uncertain times, finances can be even more stressful.

That is why we post regular updates on our Facebook and Twitter, and urge the politicians in Washington to pass the Senior Citizens Bill of Rights.

Help us take action and be a part of creating a more financially secure future for all senior citizens.