We Will Show You Latest PC Technology News Regarding Calculate how much stimulus money you could get if another check passes before 2021
If Congress in the few weeks left in 2020 can pass, could you expect to receive in a ?
The IRS uses a fairly complicated collection of variablesyou and your family would be eligible for. Instead of making you do the legwork, we built a handy calculator to help make estimating the payment as easy as possible.
The IRS is expected to follow guidelines similar to what it used for theof up to $1,200 per person, but there could be a twist. If and when a , there could be for you or , which could result in more money for you. However, there are two different proposals for what that means, so things could get tricky. It’s important to read the next section below before you use the calculator tool. And there is a chance Congress could pass a short-term rescue package that .
Our stimulus check calculator is based on rules from the CARES Act, which governed the first stimulus check and doesn’t retain your personal details in any way. Keep in mind this tool supplies estimates only — the IRS may calculate a final figure based on other factors.
Important: Do this before you start to calculate
Again, this is just to estimate the amount you could receive, to give you a ballpark figure; this isn’t needed to receive a payment. You will need your 2019 1040 federal tax form. It’s line 7 on the 2018 1040 tax form., from your 2019 or 2018 tax information. If you’ve , you can find that figure on line 8b of the
The CARES Act allowed you tofor $500 apiece, as long as they’re 16 years old or younger (that is, under 17 years old). One change for the second check under discussion is how to expand the definition of a dependent. Two proposals suggest $500 for dependents you claim on your taxes regardless of age. The offers $1,000 per child dependent, appearing to keep the definition of this group used in the previous rules.
Remember, the calculator below is based on the first check. There are two ways to estimate the total number of dependents of any age on the calculator below, according to each proposal. For the first, add the number of dependents in the corresponding field, regardless of age. For the second, double the actual number of child dependents you claim. For example, if you have one qualifying child, enter two for a total of $1,000 per child. If you have two children, enter four to reach the sum of $2,000 for two children. We’ll update this calculator when the rules are finalized.
Here are exceptions to the current rules regarding when someone who’s 17 to 24 years old taxes, or have a different circumstance, read our for more information.. If you don’t typically file
Calculate your stimulus payment
Use details from your 2019 or 2018 tax return, whichever is most recent.
1. Choose your filing status below.
Note: If you aren’t able to view the calculator, please. If on a mobile device, allow the calculator to load into a new browser tab.
If you don’t usually file taxes, how to estimate your stimulus money
With the first checks, the IRS automatically sent stimulus checks to many who normally are not required to file a tax return — including senior citizens, Social Security and Social Security Disability Insurance recipients, Supplemental Security Income recipients and railroad retirees. (In some situations, eligible individuals and families who didn’t file taxes needed to use the IRS Non-Filers tool to provide the IRS with enough information to send a check.)
If this is the case for you, enter your best guess where it asks for your.
for a payment but have not claimed it yet. The IRS is sending letters to 9 million nonfilers who may be eligible.
Reminder: Here’s who qualifies to receive a stimulus check
We have much more information, but in broad strokes, here’s who’s eligible for some stimulus money under the CARES Act:
- You’re a single US citizen or resident alien and have an adjusted gross income less than $99,000
- You file as the head of a household and earn under $146,500
- You file jointly without children and earn less than $198,000
For everything to know about the first payment,. We also have an idea for if another stimulus payment is approved and .