Around a year ago, when the first coronavirus stimulus law – the so-called CARES Act – was signed into law by President Trump, we at The Crossborder Planner received lots of messages from Americans living abroad, who all shared the same problem: they didn’t know how to cash their IRS check abroad.
Fast forward to today, as the IRS is beginning to distribute the third round of U.S. government-funded Economic Impact Payment stimulus checks to individuals. (We’ll call this third payment “EIP3” for short…)
EIP3s, which are the first to come out since Joe Biden entered the White House in January, are larger than the first two payments. Specifically, they’re US$1,400 per individual, including dependents without age limitation.