As the negotiations to pass another economic relief bill that includes a new stimulus check roll on, you may be among the hundreds of millions waiting to find out if you and your dependents will qualify for more money. (Here’s how Americans say they’ll use the second checks.)
Details aren’t finalized, but there are some clues that a few of the eligibility rules from the first stimulus payment could change with a second stimulus check. In one case, the yes-or-no decision excluding one group from receiving a payment was apparently a matter of interpretation, but qualifications are typically created around parameters such as tax status, age and yearly income.
Read on for all the details we currently know about stimulus payment eligibility, including how to claim it if you don’t file taxes and how the rules could change. We’ve also sketched out a number of potential timelines for when you could get a new stimulus check and demystified how the IRS uses eligibility rules to determine your stimulus payment.
New proposed rules could favor some families above others
Three separate proposals have changed the language concerning your dependents and how much money you could see in a final check if you claim them on your taxes. Two of these earlier proposals would add $500 for each dependent, regardless of the person’s age.
The White House’s Oct. 9 offer seeks to largely keep the definition of a dependent restricted to “children” as defined in the bill, but it raises the value to $1,000, which would still net many families more money. The first stimulus check added $500 per each child under 17 years old, but unless your dependents fell into a different category, children 17 and older and adult dependents, like a parent, were passed over.
The first proposal would benefit families with older dependents, while the second benefits younger families. We’ll show you how to calculate your estimated total here…Read more>>