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With the second stimulus check each eligible adult will get up to 600 decreasing as income raises.
Stimulus check second round who gets it. Previously it was believed that the qualifications to receive a second stimulus check would be the same as the first round of payments. Any payment not issued by that date will have to be claimed as a tax credit on a 2020 federal tax return. A second round of stimulus checks are on the way and many eligible families are expected to receive the money this month.
President donald trump signed a bill that includes 900 billion in pandemic aid relief on the 27th of december. Below are the groups of people who won t receive a 600 check in the second round. The second stimulus check is different from the first direct payment in more ways than one.
Last month congress approved 600 direct payments for most americans. However the income limits are not quite as generous. The legislative package includes a second round of economic impact payments also.
The irs says people will automatically get their payments in the second round of stimulus checks. For a start eligible adults will receive only half the possible total while child dependents will get. Child dependents who are 17 years old the 900 billion stimulus package directs 600 to each child in a family.
Eligibility is still based on adjusted gross income from your most recent tax return tax year 2019 or 2018 if you haven t filed last year s return. Adults and qualifying children are both eligible for up to 600 each with the second payment. In the first round adults were eligible for 1 200 and dependents were eligible for 500 individuals who reported adjusted gross income agi of 75 000 or less on their 2019 tax returns will receive the full 600 150 000 or less agi for couples.
You ll get an additional 600 if your dependent child is younger than 17. Unlike the 1 200 stimulus payments from the cares act that took months to distribute the irs has until january 15 to get the second round of payments out. The maximum amount for this second round of stimulus checks is 600 for any eligible individual or 1 200 per eligible couple who file taxes jointly.
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