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Monday, November 23, 2020

Here Are The Requirements For The Second Stimulus Check

Even after months into stimulus package negotiations, it doesn’t look like the lawmakers are any closer to passing a stimulus bill. Even so, the requirements for the second stimulus check has been modified time and again with every new stimulus bill proposal. We will tell you the latest requirements. 

There are two viewpoints that have opposing proposed requirements. The first round is stimulus package saw individuals as eligible via their AGI and age details. 

How Has The Second Stimulus Check Requirements Changed?

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The White House has brought forwards a stimulus package worth $1.8 trillion. Under this stimulus bill, the eligibility requirements for a stimulus check has been revised. The good thing is that the revision will include more people now. 

The key change is that dependents will be allotted a larger sum of money, which means that families with more dependents will receive a higher amount of stimulus money. 

On Tuesday, President Trump tweeted encouraging lawmakers to go big on the stimulus package. 

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The Stimulus bill means different things for different people because everyone is categorized in different ways. Some of the categories are independent eligible adults, dependents, and retirees, or older adults. Other categories include American citizens living in other countries and SSDI, etc. 

Is The Dependent Stimulus Check $500 Or $1000?

stimulus check
Here Are The Requirements For The Second Stimulus Check 2

The first stimulus bill allotted $500 to dependents. However, these dependents were under the age of 17. 

Democrats have proposed to include adults (college students and such) also under the criteria of “dependents.” They proposed that adult dependents will also be given $500 stimulus checks. 

The stimulus package proposed by the Trump administration wants to keep the definition of dependents the same. However, they plan on increasing the amount of stimulus check to $1000 from $500. 

Both the party and the White House agree that the CARES Act excluded a lot of individuals from being categorized as “dependents.”

Are You Qualified Under The Second Stimulus Package?

Sources say that many of the first stimulus bill guidelines will be followed by the second stimulus package. 

Individuals whose AGI is lower than $99,000 are eligible for stimulus checks. Couples who file together needs to have $198,000 or lower AGI to be considered eligible for the stimulus package. 

Under the Democrat’s proposed Heroes Act, dependents can be of any age. The stimulus bill proposed by the Republican Party caps the dependents category for individuals under 17 years of age. The Heroes Act also proposed to send stimulus checks to individuals who pay taxes but are not American citizens. Sources believe that this clause will not pass in the Senate. 

A US citizen living abroad will most likely also receive a stimulus check. Similar to the first stimulus package, incarcerated individuals will still be excluded from receiving stimulus checks.

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