Just because you received the firstdoesn’t mean you’ll be eligible for a second payment. Until Congress , we won’t know all the , and . While we wait, however, we can examine how the worked and look through the various , in order to estimate who may not qualify for more money.
Theremains — with new coronavirus cases spiking across the country, new lockdowns are being instituted in some areas, threatening jobs. With only a few weeks left before 2021, can Washington lawmakers strike a deal on a , with a ?
“There are a lot of things that are going to have to wait till Joe Biden is president, but this is not one of them,” Ronald Klain, incoming White House chief of staff for the president-elect, said on NBC’s Meet the Press on Sunday. “We need action during the lame duck.” If an agreement isn’t reached, Biden also that would include another stimulus check.
Here’s what we know so far about who might or might not be eligible for a payment. This story is updated regularly.
Unmarried taxpayers who report an adjusted gross income over $99,000
Youris the sum of money you earn in one year, minus approved deductions. The IRS uses your AGI to determine if you qualify for . Under the CARES Act, your AGI cutoff as a single taxpayer is $99,000 per year to qualify for a stimulus payment. If you earned more than that through a paycheck or other assets, like stocks, the IRS wouldn’t send you a check.
If you make between $75,000 and $95,000, however, you would get a portion of the check, and likely will if the income rules don’t change. Here’s Read more>>…