How much you can receive in your third check
How much you can receive in your third check

How much you can receive in your third check

Senate Democrats passed The nearly $ 1.9 trillion Covid aid package over the weekend, leaving only a vote in Parliament and President Biden’s signature between Americans and $ 1,400 emergency checks.

There is a number of important changes in the Senate version of the bill, including a reduction in the number of Americans who will be eligible for stimulus payments. To be eligible for as much as $ 1,400, individuals must have one adjusted gross income (AGI) under $ 75,000. Couples applying together must have an AGI below $ 150,000 to receive the full $ 2,800.

The House version of the bill would have seen payments reduced for every $ 100 that a person earns over $ 75,000 until they lost eligibility if they have an AGI higher than $ 100,000, while couples lost eligibility to $ 200,000. Now, people earning over $ 80,000 will not receive any stimulus payments, while couples earning more than $ 160,000 will also go empty handed.

The payouts are based on either 2019 or 2020 income, depending on when a taxpayer submits their tax return for 2020.

To see how much relief you can expect to receive, find a personal finance website Cultivate made a calculator That factors in your application status, annual income and the number of dependents you have.

Find out how much your stimulus check could amount to by connecting to your AGI – click here if you need help calculating it and other information below.

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