A STIMULUS check calculator allows individuals to consider how much of the proposed $ 1,400 Third Stimulus Check they might qualify for.
The calculator featured on CNET simply requires people to enter their enrollment status, Adjusted Gross Income (AGI) and number of Qualified Dependents on their 2019 or 2020 tax forms.
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With a new calculator, individuals can consider what they might get when the latest $ 1,400 stimulus check proposals are passedPhoto credit: Getty Images – Getty
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CNET’s calculator takes into account enrollment status, adjusted gross income, and the number of dependents an individual may havePhoto credit: Getty Images – Getty
From today’s perspective, Joe Biden’s $ 1.9 trillion plan to help coronavirus is moving forward, giving many Americans hope that another round of stimulus checks may be on the way.
The Senate is likely to take up the relief plan known as the American Rescue Plan this week.
A stimulus payment of up to $ 1,400 is currently planned and is granted to American residents based on their income.
Biden said: “We have no time to waste. If we act decisively, quickly and courageously now, we can finally be one step ahead of this virus.”
“We can finally get our economy going again. And the people of this country have suffered far too much for far too long. We need to alleviate that suffering. The American rescue plan does just that.”
PAYMENTS BASED ON INCOME
Currently, a single taxpayer who earns less than $ 75,000 based on the AGI will receive the full amount, while an individual with an AGI above $ 100,000 will be ineligible.
A tier will also provide a percentage of that $ 1,400 for individual taxpayers earning between $ 75,000 and $ 100,000.
The same system applies to a Head of Household (the full amount under $ 112,500; ineligible over $ 150,000) and a married couple making an application together (the full amount under $ 150,000; ineligible over $ 200,000).
People with dependents would also see the size of the checks they receive based on the number of people they care for.
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For example, a householder with one dependent would receive $ 2,800 while a couple with two dependents would receive $ 5,600.
The biggest sticking point for the bill, according to some experts, is a provision added by parliament that would raise the federal minimum wage to $ 15 an hour by 2025.
The Senate bill is unlikely to include the increase.
House passes $ 1.9 trillion Covid Relief Bill, including checks for $ 1,400,000 – two Dems and each Republican vote against
