Calculate how much stimulus check money you could get. Here's a tool - CNET

The CNET stimulus payment calculator can help you estimate how much money you could get from the IRS if a second check comes to be.

Sarah Tew/CNET

If you were to meet the requirements for a stimulus payment, would you qualify for the full amount, and how much money in all would your family get? The IRS paid up to $1,200 per person with the first stimulus check and could follow the same guidelines if a second direct payment is approved by Congress -- perhaps with a twist. How to work out the upper limit for a payment is easy, but other factors would inform your total.

Our stimulus check calculator, below, works out how much you might be able to receive, based on the rules from the CARES Act, which governed the first stimulus check. The calculator doesn't store your personal details or retain them in any way. Keep in mind that this tool is for estimates only and doesn't provide a final figure supplied by the IRS. There may be other factors that could determine the final size of your check.

CNET Coronavirus Update

Keep track of the coronavirus pandemic.

Before we begin: 3 key things to know

You will need your adjusted gross income, or AGI, from your 2019 or 2018 tax information. If you didn't file, use your 2018 info instead. If you've filed your 2019 federal tax return, you can find that figure on line 8b of the 2019 1040 federal tax form. It's line 7 on the 2018 1040 tax form. 

The CARES Act allowed you to claim child dependents for $500 apiece, as long as they're 16 years old or younger (that is, under 17 years old). If you'd like to calculate the total for dependents of any age -- a change that's been discussed for a second check, but isn't guaranteed -- add the number of dependents in the corresponding field, regardless of age.

Here are exceptions to the current rules regarding when someone who's 17 to 24 years old can claim a stimulus check. If you don't typically file taxes, or have a different circumstance, read our stimulus check FAQ for more information.

Calculate your stimulus payment

Use details from your 2019 or 2018 tax return, whichever is most recent.

1. Choose your filing status below.

Note: If you aren't able to view the calculator, please click this link. If on a mobile device, allow the calculator to load into a new browser tab.

Stimulus check eligibility basics

We have much more information here, but in broad strokes, here's who's eligible for some stimulus money under the CARES Act:

• You're a single US resident and have an adjusted gross income less than $99,000
• You file as the head of a household and earn under $146,500
• You file jointly without children and earn less than $198,000

Now playing: Watch this: Next stimulus checks: What to expect

3:03

How to calculate your stimulus check money if you don't usually file taxes

With the first checks, the IRS automatically sent stimulus checks to many who normally are not required to file a tax return -- including senior citizens, Social Security and Social Security Disability Insurance recipients, Supplemental Security Income recipients and railroad retirees. (In some situations, eligible individuals and families who didn't file taxes needed to use the IRS Non-Filers tool to provide the IRS with enough information to send a check.)

If this is your case, enter your best personal income estimate for income where it asks for your adjusted gross income.

For everything to know about the first payment, see our guide to the first round of checks. We also have an idea for how quickly the IRS could send out the second round of payments once they are approved and what other benefits you might expect in another economic relief package.

Let's block ads! (Why?)

"much" - Google News
September 13, 2020 at 02:00AM
https://ift.tt/2RnFNp3

Calculate how much stimulus check money you could get. Here's a tool - CNET
"much" - Google News
https://ift.tt/37eLLij
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update

Bagikan Berita Ini