If I'm eligible for a third payment, how much money will I get?
Here are stimulus calculators for the first and second checks, respectively. Interest from tax-exempt bonds isn't included in your AGI, however, so it wouldn't affect your stimulus payment eligibility.įor the third stimulus check, some of the eligibility rules changed in the final version of the bill - read on for more, and use our third stimulus check calculator to see if you qualify based on income limits. The same is true for interest from a bank account. If you have a pension or investments that are taxable, those will affect your AGI, and therefore your eligibility for a stimulus check. (Find out everything you need to know about how your taxes affect your stimulus payment here.) Since the tax deadline has been extended to May 17, the IRS is likely to use your 2019 tax return, if you file taxes. Your AGI is your gross income minus any eligible adjustments that you may qualify for. How do I know if I'm eligible for a third stimulus payment?įor the first and second stimulus checks, whether you were eligible for any stimulus money (and if you were, how much money you could receive) depended on whether you were considered a dependent and the amount of your AGI from your federal tax filing. (If you have questions about citizenship requirements, see more below.) The IRS notes you are considered age 65 on the day before your 65th birthday. Who does the IRS categorize as an older adult?Īnyone aged 65 or older at the end of 2020 is considered a senior adult on their taxes that year and beyond. Also, if you're still missing money from the first or second checks, you'll need to claim it as a Recovery Rebate Credit on your 2020 taxes, even if you don't usually file them. We'll explain everything that could affect your third stimulus payment - from filing your federal taxes this year to your adjusted gross income, pension and Social Security benefits, as well as if someone counts you as an adult dependent on their taxes. Tax season may also be a deciding factor this time if you filed a tax return in early 2021 and it's already been processed by the IRS. The total amount of this third check also depends on how many dependents you're claiming this year (if any), or if you're claimed as a dependent on someone else's taxes. It may be different, however, for individuals with "high" income levels from investments or other sources. And if you're age 65 or older, you receive Social Security benefits or you're a veteran, you will likely receive a $1,400 check ( track your payment here). The IRS is in the middle of sending the next wave of third stimulus payments to those who are eligible for the payment.
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