- Biden has approved a third stimulus package as part of a massive economic aid bill.
- An individual who earns $75,000 or less will receive a check for $1,400, which includes dependents of all ages.
- Couples making $150,000 or less get $2,800.
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A third stimulus check is imminent.
On Thursday, President Joe Biden approved another round of payments as part of the US $1.9 trillion bailout.
Here’s who qualifies for a third stimulus check, worth up to $1,400 per person.
Who gets the third stimulus check?
Anyone with a Social Security number who meets the income requirements is eligible to receive a payment, including dependents of any age. This is a break from the previous two emergency relief accounts, which did not include payments for dependents aged 17 and over, but smaller amounts for children.
The IRS uses the adjusted gross income on your 2019 tax return, unless your 2020 return has been processed at the time the payments are sent, to determine how much you will receive.
Here’s who gets the full $1,400, or $2,800 for married couples:
- Single filers with an AGI of $75,000 or less
- Head-of-household filers with AGI of $112,500 or less
- Married filers with an AGI of $150,000 or less
Here’s who gets a reduced compensation:
- Single filers with AGI over $75,000 and under $80,000
- Household filers with AGI greater than $112,500 and less than $120,000
- Married filers with AGI over $150,000 and under $160,000
People who don’t have to file an income tax return can also get payments. Information collected through the IRS nonfilers tool will be used to mail the checks to these recipients. Also, retirees and individuals on disability benefits and recipients of additional security income who do not file tax returns may receive payments.