It has been stated by the Taxation and Economic policy institute that single people will receive stimulus checks provided by the federal government of the United States of America. However, there are certain eligibility rules that must be noted, especially income. It has been stated that single people who earn a total of 52,000 and no more than that in a year, can expect to receive the money. The total amount of money that they can expect to receive as financial aid payments is 2,710 USD.
Calculate Your Stimulus Check
The Bureau of Labor Statistics of the United States of America has given out information on the earnings of the people. According to the information, the median earning of someone who works full time in the country every week is said to be somewhere between 990 USD to 1.480 USD per year. This was for the 2nd quarter of the year 2021. And it has been stated that the stimulus checks financial aid payments will be provided on the basis of this information.
The potential amount of the stimulus check financial aid payments were broken down by the ITEP. It was done on the basis of category and income. So in order to know the exact amount of the stimulus check payments that one will receive, the AGI also known as the adjusted gross income, must be checked. This will be mentioned in the tax return that was last filed by one.
After doing this, one can add any sources of the stimulus money that one is eligible to get. For example, if the AGI is 75000 USD and one has one child to look after. And the income range is somewhere between 65,000 USD to 111,300 USD. Now the stimulus check amount of 2,910 USD must be added to the child tax credit financial aid payment of 620 USD. This brings the total amount of the money to 3,540 USD. This is the amount one can expect to receive.