Are you one of the millions who were eagerly awaiting the second wave of stimulus checks? Well, your wait might finally be over! The Congress and the White House have come together to pass a new stimulus package that would provide financial support to Americans hit hard by the COVID-19 pandemic. However, not everyone is eligible for these much-needed funds.
To qualify for the second stimulus check, you must meet certain criteria. If you are an individual with an adjusted gross income (AGI) of up to $75,000 or a married couple filing jointly with an AGI of up to $150,000, you will receive the full amount of $600. Additionally, parents who meet these income requirements will also receive $600 for each qualified child under the age of 17. However, you might not be eligible for any stimulus funds if your AGI exceeds these thresholds.
The second stimulus package will differ slightly from the first one in terms of qualification criteria. For instance, unlike the first stimulus payment, you do not need to have a social security number to receive your check. If you have an Individual Taxpayer Identification Number (ITIN), you are also eligible for the payment – provided that you meet other criteria. Even if you received unemployment funds in 2020, you can still qualify for the stimulus check, but you need to meet certain income requirements. For more information on eligibility, visit the IRS website to learn more about the latest updates.
Eligibility criteria for the second stimulus check
The second stimulus check, also known as the Economic Impact Payment (EIP), is a relief payment issued by the federal government to help individuals and families cope with the economic impact of the COVID-19 pandemic. However, not everyone is qualified to receive this payment. Here are the eligibility criteria for the second stimulus check:
- Age – To qualify for the second stimulus check, you must be at least 18 years old.
- Citizenship – You must be a U.S. citizen, U.S. national, or a resident alien with a valid Social Security number (SSN).
- Income – Your income should be below a certain threshold to receive the full amount of the stimulus check. For individuals, the maximum adjusted gross income (AGI) is $75,000, while for married couples, the maximum AGI is $150,000. Above these limits, the payment amount will gradually decrease until it reaches zero.
- Tax filing status – Eligibility for the second stimulus payment is also based on your tax filing status. If you filed your 2019 taxes before the deadline or have already filed your 2020 taxes, you will automatically receive the payment. If you did not file your 2019 taxes, the IRS will use your 2018 tax information to determine your eligibility.
- Dependents – Dependents, including children under the age of 17 and elderly or disabled relatives who you claimed on your tax return, are eligible for a payment of $600 each.
It should be noted that there are some exceptions and caveats to these criteria, and not everyone who meets these requirements will receive the second stimulus payment. For instance, individuals who are claimed as dependents on someone else’s tax return are not eligible for the payment. Additionally, if you owe back taxes or child support, the stimulus payment may be withheld to satisfy these debts.
How to check if you are eligible for the second stimulus payment
If you are eager to find out if you qualify for the second round of stimulus checks, here are the steps you need to follow:
- Use the IRS Get My Payment tool. The IRS has reactivated this tool for people to check the status of their stimulus payment. You will need to enter your Social Security number, date of birth, street address, and zip code to access the information.
- Review the eligibility requirements. The IRS has set different eligibility criteria for the second round of payments. To qualify for the full amount, you must have an adjusted gross income (AGI) of less than $75,000 if you are single or $150,000 if you are married filing jointly. For filers with income above those amounts, the stimulus payment amount is reduced by $5 for every $100 above the $75,000/$150,000 thresholds. Individuals with AGI of $99,000 or more and married couples making $198,000 or more will not receive a payment. There are other eligibility criteria to review, such as dependency status and citizenship status.
- Check your bank account. If you received the first stimulus payment via direct deposit, the second payment will be deposited to the same account. The IRS started delivering the second stimulus payment in waves on December 29, 2020, and will continue to do so in the following weeks. Keep an eye on your bank account and check if the payment has been deposited.
It’s important to note that some people may experience issues with the second stimulus payment due to inaccuracies or changes in their personal information. If you are facing problems with the stimulus payment, reach out to the IRS for assistance. They have a dedicated hotline for stimulus check inquiries: 1-800-919-9835.
Now that you know how to check for eligibility, make sure you take the necessary steps to claim your stimulus payment. The second stimulus payment could provide much-needed financial support to those struggling during the pandemic.
Dependents’ eligibility for the second stimulus payment
For many Americans, dependents are an important consideration when it comes to the second stimulus check. The good news is that there are expanded qualifications for who can claim dependents on their 2020 tax returns. Here are some key points to keep in mind:
- Children under the age of 17 are eligible as dependents
- Adult dependents, such as elderly parents or disabled adult children, may also be eligible
- Dependents must be U.S. citizens, U.S. nationals, or U.S. resident aliens
The amount of the stimulus payment is dependent on a number of factors, including whether the dependents meet the eligibility requirements. For example:
- Individuals who qualify for the full stimulus payment of $600 will also receive an additional $600 for each dependent claimed
- Those who do not qualify for the full stimulus payment may still receive a partial payment based on the number of dependents claimed
- Parents who have shared custody of a child will need to determine which parent can claim the child as a dependent for the purposes of the stimulus payment
It’s important to note that some individuals may not receive the full amount of the stimulus payment if they have outstanding debt, such as child support, that is owed to state or federal agencies. In these cases, the debt may be taken out of the stimulus payment before it is distributed.
| Dependent Type | Stimulus Payment Amount |
|---|---|
| Children under 17 | $600 per child |
| Adult dependents | $600 per dependent |
If you are unsure about whether you or a dependent qualifies for the second stimulus payment, it’s a good idea to consult with a tax professional or use an online tax filing software that can help you determine your eligibility.
Deadline to Claim the Second Stimulus Payment
If you missed the first deadline for claiming the second stimulus payment, don’t worry! The IRS has extended the deadline to claim your payment until May 17, 2021. This deadline applies to anyone who hasn’t yet received their payment, or who received less than they were entitled to.
Who Qualifies for the Second Stimulus Payment
- Individuals earning less than $75,000 per year are entitled to the full payment of $600.
- Married couples filing jointly earning less than $150,000 per year are entitled to the full payment of $1,200.
- Individuals and couples earning more than the above thresholds may still receive a reduced payment.
How to Claim Your Second Stimulus Payment
If you’re eligible for the second stimulus payment but haven’t received it yet, there are a few steps you can take to claim your payment:
- Check the status of your payment on the IRS website using the “Get My Payment” tool.
- If the tool shows that your payment was sent, but you haven’t received it, contact the IRS for assistance.
- If you didn’t receive your payment and don’t typically file a tax return, you may need to submit a tax return for 2020 in order to claim your payment.
Additional Information
The second stimulus payment is intended to provide financial assistance to individuals and families affected by the COVID-19 pandemic. If you have questions or concerns about your eligibility for the payment, reach out to the IRS for assistance. Additionally, be wary of scams related to the stimulus payment. The IRS will not contact you by phone, email, or social media to request personal or financial information.
| Income Level | Full Payment Amount |
|---|---|
| Up to $75,000 for individuals | $600 |
| Up to $150,000 for married couples filing jointly | $1,200 |
| Above $75,000 for individuals and above $150,000 for married couples | Reduced payment based on income level |
Remember to claim your second stimulus payment before the May 17th deadline. This payment can provide much-needed relief during these difficult times.
How to track the status of your second stimulus payment
If you have been anxiously waiting for your second stimulus check, you may be wondering how to track its status. Here are some options available to you:
- Check the IRS Get My Payment tool. The IRS has developed a tool called Get My Payment that allows you to check on the status of your payment. You will need to provide some personal information, such as your Social Security number, date of birth, and mailing address. If your payment has been issued, the tool can also provide the date it was sent.
- Call the IRS Economic Impact Payment Information Center. If you prefer to speak to someone on the phone, you can call the IRS Economic Impact Payment Information Center at 1-800-919-9835. The representatives can provide information about the status of your payment, and assist you with any issues you may be experiencing.
- Check your bank account. If you received your first stimulus payment via direct deposit, you may also receive your second payment in the same manner. Check your bank account regularly to see if the payment has been deposited.
If you checked the status of your payment using the IRS Get My Payment tool and received a message that says, “Payment Status #2 – Not Available,” this can mean that the IRS has not yet processed your payment or that you are not eligible for a second stimulus payment. If you believe there may be an issue with your payment, it’s a good idea to call the IRS to discuss the matter further.
Here is a breakdown of the different payment statuses you may see when using the Get My Payment tool:
| Payment Status | What it means |
|---|---|
| Payment Status #1 – Payment Status Not Available | The IRS has not yet processed your payment or you are not eligible for a second stimulus payment. |
| Payment Status #2 – Payment Pending | Your payment has been scheduled, but the IRS has not yet sent it. |
| Payment Status #3 – Payment Issued | Your payment has been processed and sent to you via direct deposit or mail. |
By utilizing these resources, you can stay up-to-date on the status of your second stimulus payment.
What to do if you did not receive your second stimulus payment
If you are one of the millions of Americans who have yet to receive their second stimulus payment, there are a few steps you can take to make sure you get the money you are owed.
- Check the status of your payment: The first thing you should do is check the status of your payment. You can do this by using the IRS Get My Payment tool. This will tell you if your payment has been sent, and if so, when it was sent and to what address or bank account.
- Make sure you qualify: You may not have received your payment because you do not qualify for it. Check the eligibility requirements on the IRS website to make sure you meet all the criteria.
- File your taxes: If you did not receive your payment because the IRS does not have your current information, you can file your 2020 taxes as soon as possible to provide them with your up-to-date information. This could include your new address or bank account information.
If none of the above steps work, or if you believe there has been an error with your payment, you can contact the IRS to inquire about your missing funds. Keep in mind that the IRS is currently experiencing high call volumes and long wait times, so it may take some time to get through.
Remember, the second stimulus payment is meant to provide some financial relief during these difficult times. If you think you are owed this money, take the necessary steps to ensure that you receive it.
Important Dates to keep in Mind:
If you are still waiting for your second stimulus check, there are some important dates to keep in mind:
- January 15th, 2021 – This was the deadline for the IRS to make all second stimulus payments. If you have not received your payment by now, you will need to claim it on your 2020 tax return.
- February 12th, 2021 – This is the first day the IRS will begin processing tax returns. If you are claiming your missing stimulus payment on your tax return, be sure to file as early as possible to receive your refund more quickly.
What information will I need to claim my missing payment on my tax return?
If you did not receive the second stimulus payment, you will need to claim it as a Recovery Rebate Credit on your 2020 tax return. To do this, you will need to provide the IRS with information about your income, dependents, and any previous stimulus payments you received during the year. You can find all the necessary information on the IRS website.
| Information Needed | Where to find it |
|---|---|
| Your income | Your 2020 tax return |
| Dependent information | IRS Form 1040 and Schedule 8812 |
| Previous stimulus payments | Notice 1444, Your Economic Impact Payment |
By following these steps and staying up-to-date on important dates, you can claim the second stimulus payment you are owed and receive the financial help you need.
Exclusion codes and reasons for not receiving the second stimulus check
While many individuals across the United States have received their second stimulus check, there are still some who may not be eligible. Here are some exclusion codes and reasons for not receiving the second stimulus check:
- Exclusion Code 1: You have not filed a tax return for 2019 or 2020
- Exclusion Code 2: You are claimed as a dependent on someone else’s tax return
- Exclusion Code 3: You do not have a Social Security Number
Additionally, there are some other reasons why you may not have received your second stimulus check:
- You have changed your address or bank information since the last time you filed a tax return
- You owed child support or other debts, which were deducted from your stimulus check
- Your income exceeds the threshold for eligibility ($87,000 for individuals and $174,000 for married couples)
If you believe you are eligible for a stimulus check but have not received it, you may want to check the IRS website for more information or contact a tax professional for assistance.
Stimulus Check Exclusion Table
| Exclusion Code | Explanation |
|---|---|
| 1 | No tax return filed for 2019 or 2020 |
| 2 | Claimed as dependent on someone else’s tax return |
| 3 | No Social Security Number |
If you fall under any of these exclusion codes or reasons, you may not have received your second stimulus check. Be sure to double-check with the IRS website for more information or contact a professional to understand your options.
Who Qualifies for Second Stimulus Check FAQs
1. Who qualifies for the full amount of the second stimulus check?
Individuals who earn less than $75,000 in adjusted gross income and married couples earning less than $150,000 jointly qualify for the full amount of the second stimulus check.
2. Are college students eligible for the second stimulus check?
Yes, if college students meet the eligibility requirements and are not claimed as a dependent on someone else’s tax return.
3. Do individuals who receive Social Security or disability benefits qualify for the second stimulus check?
Yes, individuals who receive Social Security, Railroad Retirement, or disability benefits are eligible for the second stimulus check.
4. Can non-US citizens receive the second stimulus check?
Non-US citizens who are resident aliens with a valid Social Security number are eligible for the second stimulus check if they meet the other eligibility requirements.
5. Do individuals who owe back taxes qualify for the second stimulus check?
Yes, individuals who owe back taxes are still eligible for the second stimulus check.
6. Are individuals who received the first stimulus check automatically eligible for the second one?
Not necessarily. The eligibility requirements for the second stimulus check may differ from the first one, so some individuals who received the first one may not qualify for the second.
Closing Thoughts
Thanks for reading about who qualifies for the second stimulus check. Remember to check the IRS website for the latest updates on eligibility and payment information. We hope this article was helpful and please visit us again for more information on current events. Stay safe and healthy!