A second round of stimulus checks is on the way for millions of Americans as part of a $900 billion coronavirus relief package. Therefore, you are most likely wondering how to claim the second economic stimulus check? In this article we will clarify this and other doubts you may have on this subject.
With the second Economic Impact Payment, qualifying single Americans will receive up to $600 each and married joint filers will receive up to $1,200, plus $600 for each dependent child.
Legislation requires the IRS and Treasury to finish sending payments by January 15, so most people should receive payments by that deadline.
Continue reading so you can clarify all your doubts about the second economic stimulus payment.
- Who will receive the second check or economic impact payment
- Form of payment of the second economic stimulus check
- How to claim the second economic stimulus check
- Second economic stimulus check: Frequently asked questions
- Do I have to apply for my stimulus check?
- How much will the second economic stimulus check be?
- What fiscal year is used to determine eligibility for the economic stimulus?
- How do I get my check if I have not filed a 2019 tax return?
- Will my 2020 tax return affect the amount of my Economic Impact Payment?
- I am not a US citizen. Am I eligible for the economic stimulus payment?
- Second economic stimulus check: summary of important points
Who will receive the second check or economic impact payment
To receive the payment, you must have a Social Security number. If you’re married to someone who doesn’t have a Social Security number and files taxes jointly, you’re still eligible.
Dependent adults, including some seniors and college students whose parents pay more than half of their expenses, are not eligible for a stimulus check.
If you filed taxes for 2019, your tax return must reflect an adjusted gross income (AGI) below $75,000 as a single filer, $112,500 as a head of household, and $150,000 as a married joint filer to get a $600 stimulus check.
If your AGI is within the following ranges, you will get a reduced amount:
- Individual taxpayers: between $75,000 and $87,000
- Heads of household: between $112,500 and $124,500
- Married Joint Filers: Between $150,000 and $174,000
If you didn’t file taxes for 2019, but meet other eligibility criteria, you won’t automatically receive your payment, but you’ll be able to claim it when you file your 2020 tax return.
If you don’t file taxes because your income is too low, you’ll get the maximum payment of $600 per adult and $600 per dependent child. If you used the IRS Non-Filer Tool to sign up for your first stimulus check before November 21, 2020, you will automatically receive your second stimulus check. Otherwise, you can file a 2020 tax return and claim the payment.
If you receive federal benefits such as Social Security retirement or disability benefits, Supplemental Security Income (SSI), or Veterans Affairs benefits, the IRS will use this information to determine your payment amount and delivery method.
IMPORTANT: On the IRS Economic Impact Payment Information Center website you will find detailed information about the requirements to qualify, how to apply, calculate and receive the payments that correspond to you.
Form of payment of the second economic stimulus check
Most people will receive the second Economic Impact Payment the same way they received the first, either by direct deposit, paper check, or debit card.
However, there are some exceptions:
1. You filed taxes between the first and second stimulus rounds.
Second stimulus checks are automatically sent to qualified individuals who filed 2019 tax returns and will be delivered to the bank account if you received a refund or mailing address if you owed money on that return, not the 2018 return used to determine your first payment.
2. You filed taxes using an online tax preparation service
Anyone who has filed their 2019 tax return with H&R Block and opted to use part of their refund to pay their preparation fee could see an unknown account number reflected in the “Get My Payment” tool, according to H&R Block.
Simply check that account number against the refund section of your tax return to see if it matches, and you’ll receive the money the same way you received your refund.
3. You received a debit card for your first stimulus check
About 4 million Americans received their payments via a prepaid debit card during the first round of stimulus, but that doesn’t guarantee they’ll get another one for the second round, the IRS says. This time you can get a paper check.
People receiving federal benefits will receive their stimulus check the same way they normally receive benefits.
If you’ve recently moved and are expecting to receive a paper check or debit card loaded with your stimulus payment, be sure to update your address with the US Postal Service.
How to claim the second economic stimulus check
If you don’t receive payment, you can claim the amount you’re owed the next time you file your taxes, including any amount you didn’t receive in the first round of checks.
Second Economic Stimulus Check: Frequently Asked Questions
1. Do I have to apply for my stimulus check?
No. You do not have to apply for the economic stimulus payment. If you qualify and your bank information and/or mailing information on file with the IRS is correct, your stimulus payment will be sent to you via direct deposit or check. If you’re not eligible for a payment now, you may be able to claim a tax credit later.
Visit IRS.gov and use the Get My Payment tool to find out the status of your stimulus payment. The tool will show if a payment has been issued and if the payment was sent by direct deposit or by mail.
2. How much will the second economic stimulus check be?
Qualifying single filers can get up to $600 each, married taxpayers filing jointly will get up to $1,200, plus $600 for each dependent child.
However, these amounts will depend on your 2019 tax return . You can only receive them if you reported an adjusted gross income (AGI) below $75,000 as a single filer, $112,500 as a head of household and $150,000 as a married joint filer.
You will receive a reduced amount of aid if your adjusted gross income (AGI) falls within the following ranges:
- Between $75,000 and $87,000 if you are an individual taxpayer
- Between $112,500 and $124,500 if you are the Head of Household
- Between $150,000 and $174,000 if you file jointly with your spouse
3. What fiscal year is used to determine eligibility for the economic stimulus?
Your 2019 tax return will determine if you’re eligible for a stimulus payment. If you receive Social Security benefits (either retirement or disability) but didn’t file in 2019 (because you earn too little), you’ll also receive a stimulus check, based on information submitted to the IRS on forms SSA-1099 and RRB-1099 of 2019.
4. How do I get my check if I haven’t filed a 2019 tax return?
If you receive Social Security or Railroad Retirement benefits and didn’t file a tax return in 2019, you won’t have to file a return to receive your payment; the IRS already has your information. If you don’t receive those benefits and you didn’t file a tax return for 2019, you may need to file one to confirm your eligibility. Check your status on the Get My Payment portal for instructions.
5. Will my 2020 tax return affect the amount of my Economic Impact Payment?
In some cases, yes. If you are entitled to a higher payment based on your 2020 tax return compared to your 2019 return, you will be eligible to receive the difference as a tax credit. If you lost your job or your income decreased this year during the pandemic, this situation may apply to you. But you won’t receive additional funds through a tax credit until 2020 returns are filed next year.
If your stimulus payment is lower based on your 2020 income, you can keep the higher payment sent to you based on your 2019 return.
6. I am not a US citizen. Am I eligible for the economic stimulus payment?
You may be eligible. If you have a social security number, it is very likely that you are in one of the classifications of immigrants who qualify for a payment.
Second economic stimulus check: summary of important points
- Stimulus checks worth up to $600 for individuals and $1,200 for married couples are hitting bank accounts and mailboxes this month.
- Most Americans will get their second stimulus check the same way they received their first, but there are a few exceptions.
- The IRS is using information from 2019 tax returns, federal benefit accounts and its online Economic Impact Payment tool to pay most people in mid-January.
- If you don’t receive your stimulus check by the end of January and you’re eligible, you can claim it on your 2020 tax return.
- Detailed information on this topic is available on the IRS Economic Impact Payment Information Center website.