4

Here are the income limits to qualify for a 2nd stimulus check

 3 years ago
source link: https://www.businessinsider.com/personal-finance/stimulus-check-income-limit-second-round-2020-12
Go to the source link to view the article. You can view the picture content, updated content and better typesetting reading experience. If the link is broken, please click the button below to view the snapshot at that time.

Home Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.Personal Finance

Here are the income limits to qualify for a 2nd stimulus check

stimulus check income limit
vgajic/E+/Getty
  • Congressional leaders have agreed on a new coronavirus relief package that includes one-time, non-taxable cash payments of $600.
  • The stimulus checks, as they're known, will go to individuals with an adjusted gross income of up to $75,000.
  • Married couples with an AGI of up to $150,000 would get $1,200, and dependent children qualify for their own $600 stimulus payments.
  • Sign up for Personal Finance Insider's email newsletter here »

After months of stalled negotiations, Congressional leaders agreed on a new coronavirus relief package on Sunday night.

The $900 billion deal includes new federal unemployment benefits, money for small businesses and schools, and non-taxable $600 stimulus checks, in addition to other funding. The bill still needs approval from both houses of Congress and the president to become law.

The $600 stimulus checks, half the amount of the first checks released in March, are expected to have the same income income limits as the first round of checks. 

What's the income limit for the second stimulus check?

Business Insider's Joseph Zeballos-Roig reports that, as in March, individuals with an adjusted gross income (AGI) of up to $75,000 are eligible for the full $600 payment. Married joint filers with an AGI of up to $150,000 are eligible to receive a total of $1,200. Dependent children qualify for their own $600 payments, unlike the first round of stimulus checks.

To get a stimulus check, you cannot be an adult claimed as a dependent on another person's tax return, and you must have a Social Security number.

How to get a stimulus check

As with the first round of payments, you do not have to sign up to receive a second stimulus check. The process is automatic for most individuals who qualify. Treasury Secretary Steve Mnuchin said Monday that many Americans can expect stimulus payments to hit their bank accounts as early as next week.

You will get a check if you filed taxes in 2018 or 2019, either through direct deposit or in the mail.

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. What you decide to do with your money is up to you. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.


About Joyk


Aggregate valuable and interesting links.
Joyk means Joy of geeK