Stimulus checks have a lot of moving parts you want to keep track of, from figuring out if you are, and to what to do if you don’t . It can be even more confusing if you receive or you run into with .
Why is there so much to know about these third payments? Thethat authorizes the checks reworked key details about the checks, including , and a major (here’s when the and ). Some adjustments were also made to . And with the IRS making payments in the middle of , your taxes play a big role in determining whether you’ll get a check for the full amount, and when — especially now that .
We’ll walk you through what to know, including guidance on how toand . (P.S.: Here’s what’s being said about a so far.) This story was recently updated.
More than 30 million new stimulus checks could arrive 3 ways
Take a look at ourto keep tabs on how many payments the IRS sent out so far, and who’s received them. The IRS continues to send out waves of payments through paper checks in the mail, or and some still as . Here’s .
There’s a third option as well. Social Security beneficiaries such ascould get their stimulus payments as a Direct Express card. Social Security recipients are starting to get their checks the week of April 5.
If the IRS underestimated the size of your check, you could receive. For example, if your income was lower in 2020 than it was 2019 of if you added new child or dependent on their 2020 tax return, you might qualify for more money than the IRS sent you if it based on your 2019 taxes. These ongoing payments started with those with those received their checks in March.
Hold-ups will happen, and finding help may not be easy
Any, or even a , could keep you from getting your check. For example, if you moved, you need to , not only the USPS. And depending on which , any difference could mean you only receive a partial payment, and you have to wait for the rest.
One example would be if you— including — but the IRS bases your stimulus check on your 2019 tax return. (Read more below for which tax year the IRS will use for you.)
Unfortunately,isn’t so straightforward. With the first check, the IRS hired 3,500 new telephone representatives to take your call and published two help numbers. By the third check, the IRS is telling people not to call. We share some .
Your ‘current’ tax return could make a huge difference in your payment amount
Tax season and the timing of aoverlap, especially now that the . If you , but the IRS didn’t process it yet ( ), it will base your total on (or even earlier), whichever it has on hand when it determines the size of your payment. If you didn’t file yet, you’ll be paid based on 2019 taxes.
Depending on your situation, using predominantly 2019 taxes could benefit you or cause the IRS to owe you money, if your situations changed, like if you. (Or it may have no effect). If you based on , but your check total was lower because the IRS based it on your 2019 taxes, possibly when you file in 2022, if not sooner. Here are situations in which you’d be expected to .
If you’re asuch as an , the IRS will base your check size on information it has on hand. You may need to file a simple 2020 tax return to claim the IRS may not know about — here’s more information on .
More dependents are included this time
The 13.5 million more dependents for a — for — than the first two payments did by expanding the definition of a dependent. With the new check, any dependent — child or adult — . With the , Congress included children age 16 and under but excluded dependents 17 and older.opens the qualifications to roughly
There’s a strict income limit for the third stimulus payment
Thecomes with a $1,400-per-person maximum. To to lower- and middle-income households, the legislation includes eligibility rules that exclude individuals and families at the highest income levels. An individual with an (adjusted gross income) of at least $80,000 a year would hit the payment cutoff, as would a head of household earning $120,000 and a couple filing jointly with an AGI of $160,000.
However, any. But unlike the first two stimulus payments, people above the hard upper limit wouldn’t be able to get a partial check by having dependents. Here’s how the . If you want to see for yourself, try our .
Stimulus check income limits
|Full $1,400 per person maximum (based on AGI)||Not eligible (based on AGI)|
|Single taxpayer||Less than $75,000||$80,000 or more|
|Head of household||Less than $112,500||$120,000 or more|
|Married couple filing jointly||Less than $150,000||$160,000 or more|
Some people don’t qualify for a stimulus check at all
The strict income cap Congress has set formeans you could quickly be or the House and Senate agreed to. We explore that that may have an effect, such as if you got a raise in the past year or if you claim fewer dependents this time around. Here’s who .
Many households are getting a much larger payment this time
A $1,400 maximum total per person is an obvious way your household would see more money from a third check (compared to $1,200 maximum for the first and $600 for the second). But there’s more to it than that. Since the upper limit for thewith an extra (according to , more people hit the upper income limit for receiving a second payment. And that means they at all.
A third stimulus check makes more groups of people(namely who pay taxes) and bring a larger total check to qualified individuals and their families, including $1,400 payments to dependents. A change in your circumstances can also mean you qualify for more money this time. Here are other ways a in your pocket.
Eligibility guidelines have expanded for this check
While the hard income cap will, the third stimulus check also extends qualifications to . That includes college students, and dependents of all ages with disabilities — not just those under 17 years old.
The second change to eligibility includes all “nonresident aliens won’t in the third round.” with one or more family members who aren’t US citizens. An example would be parents who aren’t US citizens, but their US-born children are. The second stimulus checks . However, people who are
You will be able to claim missing stimulus money
Although, the IRS will have until Dec. 31, 2021, to automatically send the payments. That leeway would allow for the agency to potentially fix any , including the right amount of money for dependents. Any discrepancy could also be claimed in this time period, presumably.
It’s also likely that any issues that remain after this deadline could be resolved with taxpayers andclaiming any missing money as a in 2022. You might be able to sooner by .
For more information about stimulus checks, other funding in the, including a of , how to and what we know about a .