After negotiations broke down in August, there has been a series of non-agreements between the Democrats and the Republicans. However, it looks like the negotiations for the second round of stimulus check aid is on its way. Although no date has been revealed, many in Washington believe that the second round of stimulus package will be passed before the November elections.
As lawmakers in Washington continue their negations, we thought it was better for you to be prepared. Here are the top 6 things you need to know about the second wave of stimulus checks.
6 Important Details You Should Not Miss
Second Stimulus Check Is Yet To Be Approved
Even though the second round of stimulus checks is supported by both the parties, negotiations still continue on the amount that needs to be spent. Between the Republican and the Democrat stimulus package, emerged a bipartisan stimulus plan.
You Might Receive Your Stimulus Check Earlier Than Last Time
Eligible Americans received their first stimulus checks within the first three weeks of the bill passing. Steve Mnuchin mentioned recently that the second round stimulus package will take much less time to reach the eligible Americans.
There Could Be A Change In Definitions
There has not been any major news on potential changes to the system the first stimulus package used. However, lawmakers suggest that there could be a change in the eligibility requirements. It’s only safe to assume that they will modify the definition of an eligible person to include more people.
Your AGI or Adjusted Gross Income Is taken into consideration to mark you as an eligible candidate for a stimulus check. Non-filers are also eligible for stimulus checks under certain criteria. In the previous stimulus package, children below the age of 16 were counted as dependents and were eligible for $500 each.
You Don’t Need To Wait To Know Your Total Money
There are several stimulus check calculators available online that will tell you exactly how much you will get depending on how many dependents you have.
How You Can Receive Your Stimulus Money
There are three major ways that you can receive your stimulus money. It’s going to be either through an EIP card, direct deposits or through paper checks.
Have You Received Your First Stimulus Check?
As per the IRS, at least 9 million Americans are yet to receive their first stimulus checks. If you are one of them, visit the IRS’s website and fill their form.
Meanwhile, several others are wondering if President Trump will sign an executive order in favor of stimulus check aid, as he had mentioned earlier this month.