The IRS releases "tranches" of direct-deposit payments and mails new stimulus checks every Wednesday. Most Americans whose current direct-deposit information is on file with the IRS will have already received their payments as direct transfers into their bank accounts. The IRS is expected to use the most recent information on file, so if you’ve already submitted your 2020 tax return, that’s the income that will be used to calculate your stimulus check. The tool will automatically calculate your estimated payment. You’ll also enter the number of dependents you claimed as well as your adjusted gross income from your most recent return. You’ll need to confirm that you filed a 2019 or 2020 tax return and select your filing status (single, married or head of household). To find out how much you can expect, enter some basic information into the American Rescue Plan calculator. But if you earn somewhere between $75,001 and $80,000 ($150,001 and $160,000 for married couples, respectively), or have dependents, you may not know how much money you actually qualify for.Įven if you received the first $1,200 stimulus check and the second $600 stimulus check, the proposed eligibility requirements have changed a lot this time around.
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