Your eligibility for the stimulus check might have changed since the first payment. The government modified the stimulus amounts and regulations. For example, the income threshold is lowered, so fewer high earners can collect.
With these new requirements for the stimulus check, some people can claim a stimulus payment even if they did not qualify for the first round. These new rules also let those who did not receive as much as they should have claimed the amount difference on their 2020 taxes.
For most people, the stimulus check is $600 per person or $1,200 for married couples. Parents and caregivers can receive an additional $600 for each claimed dependent younger than 17 years old.
Higher earners, however, may get less or no payment. People who earn more than the income limit will not be eligible for any stimulus money, including payments for dependents younger than 17.
Your eligibility for the stimulus check’s entire amount depends on your adjusted gross income on your 2019 taxes. To receive the maximum stimulus check amount, you must earn less than:
- $75,000 if you are a single tax filer.
- $112,500 if you are a head of household.
- $150,000 if you are married and filing together.
If you make more than these amounts but less than the income limit, you will receive a reduced payment. The IRS takes $5 for each $100 you earn more than the above figures.
You can still claim the stimulus payments if your income in 2019 made you ineligible but your 2020 earnings are less than the limit. By claiming your stimulus payments on your taxes, you will receive any owed money with your tax return. You will not get a separate stimulus check before filing your annual taxes.
You can also claim your stimulus funds if you gained a new dependent in 2020 who was not listed on your 2019 tax filing. The newest requirements for the stimulus check change the eligibility requirements, and you might be able to claim payments based on these modified regulations.
Amount of payment for the first round:
- $1,200 per adult
- $500 per child
Amount of payment for the second round:
- $600 per adult
- $600 per child
Amount of payment for the third round:
- $1,400 per adult
- $1,400 per child
Amount of the 2020 Child Tax Credit
- Up to $2,000 per qualifying child younger than 17 years old
Amount of the 2021 Child Tax Credit
- Up to $3,000 per qualifying child younger than 6 years old
- Up to $3,600 per qualifying child younger than 18 years old
By Admin –
