It’s officially happening! The United States Treasury Department has started distributing the second round of stimulus checks. But you may be asking yourself, who actually qualifies for these payments? After all, in such uncertain times, it’s natural to feel like you’re left in the dark on the latest updates. Luckily, we have the answers you’re looking for.
First and foremost, eligible individuals who meet specific income requirements will qualify for the second round of stimulus checks. Single filers who earn $75,000 or less will receive a $600 check, while couples who file jointly and make less than $150,000 combined will receive $1,200. Additionally, families will receive $600 per dependent child under the age of 17. This means that a family of four can potentially receive up to $2,400 to help cover expenses during these unprecedented times.
If you’re worried about past due child support payments or tax debt, relax. Unlike the first round of stimulus checks, the second round will not be garnished to cover these expenses. The only exception is when the person owes the money to a federal or state agency for non-tax debts. So, if you’re counting down the days until your second stimulus check lands in your account, rest assured that if you meet the income requirements, you’ll receive your much-needed financial assistance in no time.
Income Requirements for the Second Round of Stimulus Checks
The second round of stimulus checks is part of the COVID-19 relief package approved by Congress in December 2020. The eligibility criteria for the second round of stimulus checks are similar to the first round, with some changes and updates.
To qualify for the second round of stimulus checks, individuals must meet the following income requirements:
- Single filers with an adjusted gross income (AGI) of up to $75,000 are eligible for the full payment of $600.
- Married couples filing jointly with an AGI of up to $150,000 are eligible for a full payment of $1,200.
- Individuals who file as head of household with an AGI of up to $112,500 are also eligible for the full payment of $600.
- For those who earn more than the above limits, the payment amount phases out gradually and eventually stops at AGIs of $87,000 for single filers, $174,000 for married couples filing jointly, and $124,500 for those who file as head of household.
The second round of stimulus checks also includes an additional $600 per child under the age of 17 claimed as a dependent on the tax return. This payment is available to individuals who meet the eligibility requirements mentioned above.
If you are unsure about your eligibility for the second round of stimulus checks, you can check with the IRS using their online tool or speak to a qualified tax professional.
When will the second round of stimulus checks be distributed?
The second round of stimulus checks was included in the COVID-19 Relief Bill signed by President Donald Trump on December 27, 2020. The IRS started sending out the payments within a week of the bill’s signing.
- Direct deposit payments were the first to be sent out.
- Physical checks and debit cards began to be mailed out around January 4, 2021.
- Payments were also sent out to those who received their first stimulus check via debit card.
It’s important to note that not everyone will receive their payments at the same time. The IRS has said that it could take weeks or even months for some people to receive their payments. Factors that can affect the timing of payments include the method of payment (direct deposit, physical check, or debit card), the information provided on your tax return, and the method of transmission used by your financial institution.
To check on the status of your payment, you can use the “Get My Payment” tool on the IRS website. This tool will tell you the date your payment was issued and whether it was issued by direct deposit or mail. If your payment was sent by mail, the tool will also provide the expected delivery date.
| Payment Method | Delivery Method | Estimated Timing |
|---|---|---|
| Direct Deposit | Electronic transfer to bank account | Within a few days |
| Physical Check | Up to 3 weeks after payment is sent | |
| Debit Card | Up to 3 weeks after payment is sent |
In conclusion, the distribution of the second round of stimulus checks began shortly after the COVID-19 Relief Bill was signed into law. Payments will be distributed through direct deposit, physical checks, and debit cards. The timing of payments can vary based on several factors, so it’s important to check the status of your payment using the “Get My Payment” tool on the IRS website.
Dependents and the Second Round of Stimulus Checks
As the second round of stimulus checks roll out, many Americans are eager to know if they qualify. While there are some similarities between the first and second stimulus checks, there are some important differences that could impact whether or not a person is eligible. One area where there is some confusion is around dependents and how they factor into the second round of checks.
- Dependents Eligible for Stimulus Payments – One key difference between the first and second round of stimulus checks is that dependents are now eligible for payments. Under the CARES Act, only children under the age of 17 were eligible for payments. However, under the new legislation, dependents of any age are eligible for payment. This means that college students or other dependents who were excluded from the first round of checks may now be eligible.
- The Amount Dependents Could Receive – The amount of money that dependents could receive as part of the stimulus payment has also changed with the new legislation. Under the CARES Act, eligible children were able to receive $500 each. However, under the new legislation, eligible dependents could receive up to $600. While this may not seem like a significant difference, it could still impact a family’s financial situation.
- Income Limits for Dependents – It’s also important to note that there are income limits that could impact whether or not dependents are eligible for payments. Just like with individual and head of household filers, the amount that a dependent could receive begins to phase out for those with higher incomes. For dependents, the phase-out begins at $75,000 for individual filers and $150,000 for married couples filing jointly. For every $100 above these amounts, the payment is reduced by $5. This means that the higher a person’s income, the lower the amount of money their dependents may be eligible to receive.
Understanding the rules around dependents and the second round of stimulus payments is essential for those who are hoping to receive financial assistance from the government. It’s important to note that the rules around payments are subject to change, and it’s possible that there could be revisions to the current legislation in the future.
| Maximum Amount of Payment | Payment Begins to Phase Out at This Income Level | Payment Fully Phased Out at This Income Level | |
|---|---|---|---|
| Individuals | $600 | $75,000 | $87,000 |
| Married Couples Filing Jointly | $1,200 | $150,000 | $174,000 |
| Each Dependent | $600 | $75,000 | $87,000 |
As the government continues to roll out the second round of stimulus payments, it’s important for people to understand the eligibility rules for themselves and their dependents. Knowing the income limits and payment amounts can help individuals plan for and understand the financial assistance they may be eligible to receive.
Tax filing status and eligibility for the second round of stimulus checks
To be eligible for the second round of stimulus checks, individuals and families must meet certain criteria related to their tax filing status and income. Here’s what you need to know.
- Single filers with an adjusted gross income (AGI) of up to $75,000 will receive the full stimulus payment of $600. Individuals with an AGI over $75,000 will have their payment reduced by $5 for every $100 of income over the threshold. Anyone with an AGI above $87,000 will not be eligible for a payment.
- Married couples filing jointly with an AGI of up to $150,000 will receive the full stimulus payment of $1200. Couples with an AGI over $150,000 will have their payment reduced by $5 for every $100 of income over the threshold. Those with an AGI above $174,000 will not receive a payment.
- Heads of household with an AGI of up to $112,500 will receive the full stimulus payment of $600. Those with an AGI over $112,500 will have their payment reduced by $5 for every $100 of income over the threshold. Anyone with an AGI above $124,500 will not receive a payment.
It’s important to note that the IRS will use tax return information from 2019 to determine eligibility for the second stimulus checks. If you have not yet filed your 2019 taxes, the IRS will use information from your 2018 tax return.
Here’s a breakdown of the income thresholds and stimulus payment amounts for each filing status:
| Filing Status | AGI Threshold | Stimulus Payment |
|---|---|---|
| Single | Up to $75,000 | $600 |
| Married Filing Jointly | Up to $150,000 | $1200 |
| Head of Household | Up to $112,500 | $600 |
If you are unsure about your eligibility for the second round of stimulus checks, the IRS has created an online tool called the “Get My Payment” portal where you can check the status of your payment and update your bank information if necessary.
How the second round of stimulus checks differ from the first round
The second round of stimulus checks is very similar to the first round in terms of eligibility criteria and amount. However, there are a couple of key differences that are worth noting.
- The income threshold is slightly different. In the first round, individuals with an adjusted gross income (AGI) of $75,000 or less were eligible for the full $1,200 stimulus payment. For the second round, the income threshold remains the same, but the amount of the payment has been reduced to $600. Additionally, the income threshold for married couples filing jointly has been raised from $150,000 to $174,000, and those who file as head of household can receive a payment if their AGI is $112,500 or less.
- The eligibility criteria have been expanded to include more dependents. In the first round, only dependents under the age of 17 were eligible for the $500 payment. For the second round, dependents of any age are eligible for the $600 payment. This means that college students, disabled adults, and elderly relatives who are claimed as dependents can now receive a stimulus payment.
- The timeline for distribution is much quicker. In the first round, it took several weeks for the majority of eligible individuals to receive their stimulus payments. For the second round, payments started going out in the second week of January, and most eligible individuals should have received their payments by the end of January.
Overall, the second round of stimulus checks follows a similar framework to the first round, but with a few adjustments to the income threshold, payment amount, and eligibility criteria.
If you are uncertain whether you qualify for a stimulus payment, the IRS has set up an online tool called “Get My Payment” where you can check on the status of your payment and confirm your eligibility.
| Criteria | First Round | Second Round |
|---|---|---|
| Adjusted Gross Income (AGI) | $75,000 or less for individuals; $150,000 or less for married couples filing jointly | $75,000 or less for individuals; $150,000 or less for married couples filing jointly; $112,500 or less for head of household |
| Payment Amount | $1,200 for individuals; $2,400 for married couples filing jointly; $500 for each qualifying child under 17 | $600 for individuals; $1,200 for married couples filing jointly; $600 for each qualifying dependent of any age |
| Timeline for Distribution | Several weeks | Started in second week of January 2021; most should receive payment by the end of January 2021 |
Eligibility for Unemployment Benefits in Relation to the Stimulus Check
If you have lost your job or have had your hours reduced due to COVID-19, you may be eligible for unemployment benefits. These benefits have been expanded under the CARES Act to include additional weeks of unemployment insurance and a weekly supplement of $600, which expired at the end of July 2020. The second stimulus package, signed into law on December 27, 2020, extends these benefits.
- To be eligible for the weekly supplement, you must be receiving at least $1 of unemployment benefits from any of the following programs:
- Regular unemployment insurance (UI)
- Pandemic Unemployment Assistance (PUA)
- Pandemic Emergency Unemployment Compensation (PEUC)
- Extended Benefits (EB)
- Short-Time Compensation (STC)
- Trade Readjustment Allowance (TRA)
- Disaster Unemployment Assistance (DUA)
- If you are not currently receiving unemployment benefits but may be eligible, you should apply as soon as possible. Even if you don’t qualify for the weekly supplement, you may still receive the base unemployment benefit and other benefits provided by your state.
- Keep in mind that unemployment benefits are subject to federal and state taxes. You can choose to have taxes withheld from your benefits to avoid a large tax bill next year.
In addition to receiving unemployment benefits, you may also qualify for the second round of stimulus checks. The income eligibility requirements for the stimulus checks are based on your adjusted gross income (AGI) from your 2019 tax return. If your income has decreased significantly in 2020 due to the pandemic, you may still be eligible for the stimulus check based on your 2020 income.
If you are eligible for both unemployment benefits and the stimulus check, the amount of your unemployment benefits will not affect your stimulus payment. However, if you owe back taxes or have other debts, your payments may be offset by the amount owed.
| Key Takeaways: |
|---|
| – To qualify for the weekly supplement, you must be receiving at least $1 of unemployment benefits from specific programs |
| – Apply for unemployment benefits even if you do not qualify for the weekly supplement |
| – Your unemployment benefits will not affect your eligibility for the stimulus check |
If you have questions about your eligibility for unemployment benefits or the stimulus check, you can contact your state unemployment agency or the IRS for more information. It is important to stay informed about the available assistance during these challenging times.
How to track the status of your second stimulus check payment
If you’re eagerly awaiting your second stimulus check payment, you may wonder if there is a way to track its status. Fortunately, the IRS provides several options to track your payment progress.
- Use the Get My Payment tool: The easiest way to track your payment status is by using the Get My Payment tool on the IRS website. You need to provide your Social Security number or Individual Taxpayer Identification Number, date of birth, street address, and ZIP or postal code to access your payment status. The portal updates your information once a day so that you can check your status regularly.
- Call the IRS: If you don’t have internet access or prefer to speak to an agent, you can call the IRS at 1-800-919-9835 to check your payment status. However, keep in mind that the phone lines may be busy due to a high volume of calls.
- Check your mailbox: The IRS sends a paper notice to all eligible recipients when they issue the payment. The letter informs you of the payment amount, payment method, and a phone number to contact if you didn’t receive the payment. If you haven’t received the notice within two to three weeks after your payment, you may want to contact the IRS.
It’s important to check your payment status regularly and take action if there are any issues with the payment. If you’re eligible for the payment but haven’t received it, you may need to claim the Recovery Rebate Credit on your 2020 tax return.
Common questions related to stimulus check tracking
Here are some common questions related to tracking your stimulus check payments:
- How often is the Get My Payment tool updated? The tool updates once a day, usually overnight.
- Why did the Get My Payment tool say “Status Not Available”? There are several reasons why you may see this message, such as if your payment hasn’t been processed yet, you’re not eligible for the payment, or you entered incorrect information.
- Can I change my payment method or bank account information once the payment is scheduled? No, you cannot change your payment method or bank account information once the payment is scheduled. If the IRS sent your payment to a wrong or closed account, you may need to claim the Recovery Rebate Credit on your tax return.
Payment status codes in the Get My Payment tool
When you use the Get My Payment tool, you may see a payment status code that indicates the current status of your payment. Here are some common codes and their meanings:
| Code | Meaning |
|---|---|
| Payment status #1 – Not Available | The IRS hasn’t processed your payment yet. Check back later. |
| Payment status #2 – Payment Status | The payment has been processed and sent to your bank account or mail. |
| Payment status #3 – Information Needed | The IRS needs more information from you to process your payment. The portal will provide instructions on how to enter your information. |
| Payment status #4 – Payment Status Not Available | The IRS cannot determine your eligibility for the payment or process your payment. You may need to claim the Recovery Rebate Credit on your tax return. |
Overall, tracking your stimulus check payment status is easy and straightforward with the IRS tools. By checking your payment status regularly, you can ensure that you receive the payment if you’re eligible for it.
Who Qualifies for the Second Round of Stimulus Checks?
1. Who is eligible for stimulus checks?
Individuals who filed taxes in 2019 or 2020, or those who receive Social Security, Railroad Retirement, or Veteran’s benefits, are eligible for the second round of stimulus checks.
2. How much will I receive?
The second round of stimulus checks will be $600 for individuals with an adjusted gross income of up to $75,000 and $1,200 for married couples with an adjusted gross income of up to $150,000. There will be an additional $600 for each dependent child under the age of 17.
3. Will I receive a stimulus check if I am unemployed?
Yes, if you are unemployed and meet the eligibility criteria, you will receive a stimulus check.
4. Do I need to apply for a stimulus check?
No, you do not need to apply for a stimulus check. If you are eligible, the IRS will automatically send you a payment.
5. Will the stimulus check impact my taxes?
No, the stimulus check will not affect your taxes or your eligibility for federal government assistance programs.
6. When will I receive my stimulus check?
The IRS has already begun sending out stimulus checks and will continue to do so in the coming weeks. You can check the status of your payment on the IRS website.
Closing: Get Your Stimulus Check Today!
Thanks for reading about who qualifies for the second round of stimulus checks! We hope this information has been helpful. Don’t forget to keep an eye on your mailbox or bank account for your payment. Remember, these stimulus checks are designed to help Americans during these challenging times, so don’t hesitate to use yours if you need it. Stay safe and stay healthy. Visit again for more informative articles!