As we already noted, the checks that will be sent now are really just advanced payments of a new 2020 tax credit. So, if the IRS doesn’t send you a second stimulus check by January 15, 2021, you can claim it as a refund or reduction of the tax you owe when you file a 2020 tax return.
How Much Is the Second Stimulus Check, and How Will I Receive It? Taxpayers who are eligible for the stimulus check have received – or will eventually receive – a maximum of $600. If you’re part of a married couple, you’ll receive $1,200.
They paid that money back, though. Congress reversed course for the second round of stimulus checks. Under the COVID-Related Tax Relief Act, the IRS can ‘t take second -round payments to pay overdue child support.
Individual taxpayers with an AGI of $100,000 or more in 2019 or 2020 are disqualified. If your adjusted gross income, or AGI, is $100,000 or over, you won’t be eligible for a third payment of any amount. However, if you make between $75,000 and $100,000, you could get a portion of the check.
The IRS will look at your 2019 tax return (the return you filed in 2020) to determine if you are eligible for the second stimulus. You must have a Social Security number to qualify. Children can qualify if they are under age 17. Individuals with an AGI of $75,000 or less per year can receive $600.
Even if you owed back taxes or some other type of government debt, you were still due stimulus money. When Congress wrote the second bill, it even specified that those owing money to a debt collector or in back child support were still eligible for a stimulus payment.
Income is based on your 2019 adjusted gross income (AGI). Individuals earning under $75,000 and heads of households under $112,500 typically qualify for the full $600 stimulus payment. Those married and filing jointly or surviving spouses earning under $150,000 usually qualify for a $1,200 payment.
Only dependent children under 17 years old are eligible for the additional $600 stimulus payment to the taxpayer claiming them on their taxes. That means dependents who are 17 years or older, such as college students or disabled adult dependents, won’t receive stimulus payments.
When stimulus checks were authorized, the requirements for eligibility did not include filing or paying taxes. In other words, if you didn ‘ t file a return in 2018 or in 2019, you were still eligible for a check, but the IRS wouldn ‘ t have known where to find you to pay you your money.