Need help paying bills and have questions about the government stimulus check and when you will receive yours? There has been a lot of uncertainty about eligibility for the stimulus check and how much people will receive.
There are new requirements for the emergency financial assistance that qualify people previously not eligible for a payment. Likewise, certain individuals may only be eligible for a portion of the $600 and receive a lower payment. Finding out when and how much you are expecting can be helpful while you are planning your finances.
Individuals and married couples who earned more than $75,000 and $150,000 caps respectively might qualify for a reduced stimulus payment. You can receive free government money for individuals or couples (between $1 and $599) if:
- You are an individual with no dependents who earned up to $86,900
- You are part of a couple filing jointly with combined incomes up to $173,990.
- You are the head of household and earned up to $124,490.
You will also receive $600 for each dependent younger than 17 years old. You will not receive payment for your dependents who are 17 years old or older, even if they were dependents on your taxes.
However, individuals, heads of household, and married couples who earn a lot will not receive a payment for each of their dependent children. The number of dependent children will influence how much you can earn and still qualify.
You do not meet the requirements of eligibility for the stimulus check if you are:
- A nonresident alien.
- An adult dependent who someone else can claim on their taxes.
Young adults between 18 and 26 years old who are someone’s claimed dependent are not eligible for a payment even if they meet the income requirement and file taxes.
Generally speaking, if you received a full government stimulus check during the first round, you are likely to receive the full $600 and an additional $600 for each young dependent.
More people meet the requirements for the stimulus check than previously. The CARES Act expanded the number of people who are eligible for a payment.