The most important factor in the size of your— and whether you get , , or — comes to a head in whichever equation is part of the final . It was true for the first two payments, and it’s especially true for the upcoming check.
Once again, the IRS will need toto set of variables that’s different in key ways from the first two, for example, by redefining certain or (by the way, here’s how the so far.) While the — and the details about the check could change — we have enough to go on from the .
If the new check is approved as is, a family of four could get $5,600, versus the maximum $2,400 they received from the. We’ll further explain below how it works. To keep you updated, here are the today, including the and what happens when and if a . This story is updated regularly.
Before we dig into how a potential third stimulus check may change the equation and what the outcome would mean for you, here’s how it works. In general,is one of the most important factors in determining your stimulus check total. The other factors include your adjusted gross income, or , and the stimulus check formula. You can still if you’re a too.
The major variables the IRS plugs into the stimulus formula are:
- Your per your .
- Upper limits for single taxpayers, heads of household (for example, a single person with at least one child) and married couples filing jointly.
- The number of you claim.
- “Reduction” or “phase-out” rate — the amount your total would drop for every $1,000 you make above the income limit that allows you to qualify for the full check amount. In other words, this part of the equation calculates a partial payment if you don’t qualify for the full amount…Read more>>