- Congressional leaders have agreed on a new coronavirus relief package that includes one-time, non-taxable cash payments of $600.
- The stimulus checks, as they’re known, will go to individuals with an adjusted gross income of up to $75,000.
- Married couples with an AGI of up to $150,000 would get $1,200, and dependent children qualify for their own $600 stimulus payments.
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After months of stalled negotiations, Congressional leaders agreed on a new coronavirus relief package on Sunday night.
The $900 billion deal includes new federal unemployment benefits, money for small businesses and schools, and non-taxable $600 stimulus checks, in addition to other funding. The bill still needs approval from both houses of Congress and the president to become law.
The $600 stimulus checks, half the amount of the first checks released in March, are expected to have the same income income limits as the first round of checks.
What’s the income limit for the second stimulus check?
Business Insider’s Joseph Zeballos-Roig reports that, as in March, individuals with an adjusted gross income (AGI) of up to $75,000 are eligible for the full $600 payment. Married joint filers with an AGI of up to $150,000 are eligible to receive a total of $1,200. Dependent children qualify for their own $600 payments, unlike the first round of stimulus checks.
To get a stimulus check, you cannot be an adult claimed as a dependent on another person’s tax return, and you must have a Social Security number.
How to get a stimulus check
As with the first round of payments, you do not have to sign up to receive a second stimulus check. The process is automatic for most individuals who qualify. Treasury Secretary Steve Mnuchin said Monday that many Americans can expect stimulus payments to hit their bank accounts as early as next week.
You will get a check if you filed taxes in 2018 or 2019, either through direct deposit or in the mail.
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