Federal Stimulus Money Update: Find Out How Much To Expect
If you’ve been waiting patiently for another round of stimulus money, then it seems you won't have to wait much longer. According to MyKiplinger.com, by the end of this month, the Federal Government is expected to approve a third stimulus check as part of President Biden’s $1.9 trillion COVID-relief package.
The House Ways & Means Committee has already approved legislation but it needs to be approved by Congress and the Senate to become a reality. Under the current stimulus plan (of course subject to change), a third round of stimulus checks would be authorized and sent out to Americans based on income. Here’s the breakdown…
- For each eligible person: $1,400
- For married couples: $2,800
- Plus, receive an additional $1,400 for each dependent (including adult dependents)
Be aware, these current payouts are based on income. The figures above are the most you can receive if your income is below a certain amount. Those who make above income guidelines will get less stimulus money. Check out a calculator that can help you find out how much to expect based on either your 2019 tax return or your 2020 tax return if you've filed that already. Click the link below to access the stimulus calculator.