Quick Answer: How Much Will We Get For The Next Stimulus Check?

How much money is the next stimulus check?

The new economic relief law will send a second stimulus check topping out at $600 to each eligible adult and a flat sum of $600 per qualifying child age 16 years and younger.

That’s a change from the cap of $1,200 per adult and $500 per child dependent, from the first round of payments..

Is we getting a second stimulus check?

President Donald Trump signed a bill that includes $900 billion in pandemic aid relief into law late Sunday night. The legislative package will include a second round of economic impact payments, also referred to as stimulus checks, to help Americans who have been financially impacted by the coronavirus pandemic.

How quickly will we get second stimulus check?

“It will be within three weeks. We are determined to get money in people’s pockets immediately. So that will be within three weeks.” The legislation signed by Trump sets a Jan. 15 deadline for the stimulus payment distribution.

Who will get the $600 stimulus check?

Who is eligible for the $600 checks? The new agreement designates a $600 direct payment for every individual who made up to $75,000 last year, a $1,200 payment for couples who made up to $150,000 as well as an additional $600 per dependent child.

Will there be a second stimulus check in 2020?

The IRS can’t send any second stimulus checks after January 15, 2021. If a payment isn’t sent to you by then, you’ll have to claim the amount owed to you as a “recovery rebate” credit on your 2020 federal income tax return (which will be due April 15, 2021). … Otherwise, expect to get a paper check in the mail.

Are we getting a stimulus check next week?

Americans will get stimulus checks as soon as next week, Mnuchin says. Treasury Secretary Steven Mnuchin spoke in a CNBC interview ahead of Congress’ expected vote to pass the $900 billion Covid-19 relief bill.

Who won’t get the second stimulus check?

However, second stimulus checks are gradually phased-out for people at certain income levels (based on your 2019 tax return). If your income is high enough, your check will be completely phased out and you’ll get nothing! For single people, that happens if your adjusted gross income (AGI) is above $87,000.

Will SSI recipients get a second stimulus check?

The answer is yes. Those who are collecting Social Security benefits for retirement, disability or Supplemental Security Income (SSI) will be eligible for the stimulus payments.

Who’s eligible for a stimulus check?

(In the first round, adults were eligible for $1,200 and dependents were eligible for $500.) Individuals who reported adjusted gross income (AGI) of $75,000 or less on their 2019 tax returns will receive the full $600 ($150,000 or less AGI for couples filing jointly; $112,500 or less for heads of household).