WASHINGTON – President Joe Biden officially signed the latest coronavirus relief bill, dubbed The American Rescue Plan Act of 2021, into law on Thursday, securing another round of direct payments for those who qualify, among other plans to help restore an economy battered by the COVID-19 pandemic.
Shortly after Biden signed the $1.9 trillion package into law, White House Press Secretary Jen Psaki held a press briefing, during which she said qualifying Americans can expect to receive their payments as early as this weekend.
Tune in for a briefing with Press Secretary Jen Psaki. https://t.co/RMdbkxxljk— The White House (@WhiteHouse) March 11, 2021
If you filed your 2019 or 2020 tax return and have a Social Security number, you should get a check if your income is within the qualifying income brackets.
Biden says he expects 85% of American households will get $1,400 in direct payments. Others might qualify for a smaller check or won’t be eligible for a payment at all, depending on how much you make.
The calculator below can be used to estimate the payment you could receive.
Will I get a $1,400 check?
Individuals earning up to $75,000 and couples earning up to $150,000 would receive the payment of $1,400 per person. Two income earner couples who file their tax returns jointly will get a total of $2,800 if they make up to $150,000. If you claim a dependent or dependents on your tax return, you will receive an additional $1,400 for each dependent. A difference in the American Rescue Plan from previous relief bill now includes stimulus money for dependents over the age of 16 such as disabled adults and college students.
Who won’t get a $1,400 check?
The more you earn the less you get. Or you might not get any stimulus money at all. An individual earning between $75,000 and $80,000 will get a smaller check, as would married couples making between $150,000 to $160,000. The cut off is firm for those who will not get a check — individuals earning $80,000, heads of household making $120,000 and married couples making $160,000 or more in all cases will not get a check.
How do I get my check?
If you receive your income tax payment through direct deposit, your check will be deposited in that account. Otherwise, expect a check to be mailed to the address the IRS has on file.
If you’re curious about what else is inside the $1.9 trillion package, click here for a full breakdown.
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