Waiting for a Stimulus Check? This Online Calculator Will Tell You How Much to Expect
We're one year into the COVID-19 pandemic, and the U.S. government is close to sending out the third round of stimulus checks related to the crisis. The Senate passed the $1.9 trillion American Rescue Plan on March 6, 2021, and after getting final approval from the House this week, the bill will go to the White House to be signed into law.
Regardless of whether you received checks in 2020 or early 2021, it's worth checking your eligibility for this latest stimulus. The amount you receive could change based on your dependents, adjusted gross income (AGI), and even when you filed your taxes. The Third Stimulus Check Calculator from Omni Calculator lets you know just how much to expect.
As Lifehacker reports, this tool created by Omni web developer Jasmine Mah breaks down information in the American Rescue Plan for you. According to the bill, individuals earning an AGI up to $75,000 and couples making up to $150,000 are eligible to receive checks for $1400 and $2800, respectively. If you're making between $75,001 and $100,000, or part of a couple earning $150,001 to $200,000, the amount will be adjusted. People with children qualify for even more benefits. The bill includes additional checks of $1400 per dependent plus a child tax credit of $3000 per child.
To use Omni's Third Stimulus Check Calculator, you'll need to plug in some personal information. After specifying your filing status, number of dependents, income in 2019 or 2020, and whether you filed taxes for 2019 or 2020, the tool will tell you the amount you're owed. If you lost income due to the pandemic, this latest stimulus check may be the first one to factor that in. People who've already filed their taxes for 2020 should expect checks that reflect their AGI for the past year. Anyone who hasn't filed their taxes yet will be evaluated for eligibility based on their 2019 earnings.
After figuring out how much you're getting, you may be wondering when the money will arrive. Check the IRS's Get My Payment portal for updates once the stimulus package passes.