- More stimulus checks are expected to reach Americans soon, but they’re worth half the amount paid to people earlier this year.
- The one-time payments will be worth up to $600 per person. Married couples without kids can get up to $1,200. Dependent children are eligible for $600 each.
- Congress approved a new round of coronavirus relief on Monday. It includes the stimulus payments, and it still requires sign-off from the president.
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Millions of Americans continue to face financial hardship as the country battles the ongoing coronavirus outbreak, but help should soon be on the way.
On Monday, Congress approved a $900 billion bipartisan coronavirus relief package that includes, among other things, a second stimulus check. The bill must still be signed by the president to become law, and that is expected to happen soon.
How much are the second stimulus checks?
Single tax filers are expected to receive stimulus checks worth up to $600, while married filers without kids can get up to $1,200.
How much you get will be based on the adjusted gross income (AGI) reported on your most recent tax return. As with the first round of stimulus checks, nonfilers and Americans who receive federal benefits will get the maximum amount. For typical taxpayers, checks are reduced above a certain income.
A $600 check will go to single filers with an AGI below $75,000 and heads of household with an AGI below $112,500. Married couples who file jointly and have an AGI below $150,000 will get a total of $1,200. Dependent children are eligible for $600 each, meaning a family of four could receive up to $2,400.
Individuals with an AGI above those limits are still eligible, though they will receive a smaller amount based on their income. Payments phase out in increments and stop at $87,000 for single filers, $124,500 for heads of household, and $136,500 for married joint filers.
On Monday, Treasury Secretary Steve Mnuchin said he expects Americans to start receiving stimulus payments via direct deposit as early as next week.
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