Third Stimulus Control Calculator: How Much Will You Get? – Community News
Stimulus Check

Third Stimulus Control Calculator: How Much Will You Get?

WASHINGTON (NEXSTAR) — As Washington negotiates a third stimulus check as part of the Biden administration’s $1.9 trillion pandemic emergency bill, people are already trying to calculate how much they could receive.

Over the weekend, the country moved one step closer to $1,400 stimulus checks as the House approved the US bailout plan.

But who gets them and how much money do they end up getting?

The American Rescue Plan calculator created by Jasmine Mah, a web developer for Omni Calculator, will figure out what your Economic Impact Payment will look like based on your tax return status, number of dependents, adjusted gross income, and whether or not you have taxes submitted in 2019 or 2020.

US residents with Social Security Numbers may qualify for a stimulus check, but certain people who have not filed tax returns recently may still receive a payment.

Mah will update the tool as new developments arise in Washington DC, but says some users experiencing an exceptional situation to which the calculator does not apply may find help in the tool’s FAQ or in the account itself under 2021 Recovery Rebates to Individuals.

Omni Calculator is a startup that has created thousands of free calculators that people can apply to life situations.

Third Stimulus Check Calculator – US Rescue Plan

While the Senate is expected to try to make changes to the bill, the House’s current proposal calls for $1,400 stimulus checks for the same Americans who received direct payments in round two of the coronavirus relief. Depending on the timing of bill approval, Americans should keep in mind that the IRS will use the most recent salary/dependent information, so filing 2020 taxes before a third round of stimulus checks would reduce the size of the payment. can change.

If you need a refresher, anyone who makes $75,000 or less gets the full amount — and couples who make $150,000 or less get $2,800 in aid payments. As your income rises above these thresholds, the amount you receive decreases. The current plan calls for the phasing out of direct payments for singles to $100,000 and $200,000 for couples.

Recipients of “head of household”, such as a single parent, will have a higher income threshold than the single category. Those people are still eligible for $1,400, while earning up to $112,500 with $1,400 per dependent. For those Americans, the incentive plans will disappear completely on incomes of $150,000 or more.

In addition to the $1,400 payments, the bill would extend emergency unemployment benefits through August and increase child tax credits and federal health insurance subsidies.

It also provides billions for schools and colleges, state and local governments, COVID-19 vaccines and testing, renters, food manufacturers and struggling industries such as airlines, restaurants, bars and concert halls.

Now the big question is: how fast will the measure go through the Senate and can we still see those direct payments this month?

“We have no time to lose,” Biden said on Saturday. “We act now – decisively, quickly and courageously – we can finally get ahead of this virus.”

Democratic leaders hope to spend two weeks discussing the aid package and getting it to Biden’s desks before the most recent emergency benefits for the unemployed end on March 14. If that happens, the U.S. Treasury Department may be able to process instant payments within days — meaning you’ll be able to see money this month.

The fight also emerges as an early test of Biden’s ability to hold together his party’s fragile congressional majorities — just 10 votes in the House and an evenly split 50-50 Senate.

The Associated Press contributed to this report.

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