You may have heard that everyone who got the first economic impact payment would also get a second stimulus check. After all, the rules are largely the same, and in some cases, even more people will qualify than before. However, there's one major difference to the qualifications for a $600 second stimulus check -- still, the current arrangement -- that could disqualify millions of people. There may also be other reasons why you wouldn't see this round of payments. (And yes, a third stimulus check is a possibility.)
Before we dive into the details, keep this in mind. The current $600 upper limit per adult has been called into question. Even though Congress passed a huge package earlier this week that includes $900 billion for COVID-relief and a $600 maximum per person, President Donald Trump suddenly called for a $2,000 second stimulus check instead. Since nothing is final -- the bill could fail, remain as is or possibly (but improbably) shift to $2,000 -- we'll share what we know about the current legislation.
Here are several scenarios that could keep you from a second stimulus check. If you do end up being eligible, here's which payment group you may be in for a second check and how to estimate if you are eligible to receive stimulus money. We regularly update this story with new information.
$600 second check calculations could work against you
Some things changed with the second stimulus check that Congress approved Monday, including a $600 maximum per adult (down from $1,200 per person in the first stimulus package) with another $600 per child dependent (up from $500). One thing that did not change is the formula the IRS uses to calculate your stimulus check total.
The result of some decently complex stimulus-check math is that more people will phase out of qualifying for a stimulus check payment, especially if they don't have children 16 and under, the designated age for a qualified dependent.
So for example, if you're a single tax filer, don't have qualified child dependents and your adjusted gross income (AGI) on your 2019 tax return is between $75,000 and $95,000, you would have received a portion of the first ($1,200 max) stimulus check. But at a maximum of $600 per adult, you would phase out of the second payment once you hit $87,000. Read up more in our second stimulus check calculator and try it for yourself.
To determine your adjusted gross income, locate your 2019 tax statement. You'll find your AGI on line 8b of the 2019 1040 federal tax form. If you didn't file taxes in 2019, locate your 2018 tax document and navigate to line 7.
Dependents between 17 and 24: Excluded again
When the first round of stimulus checks was sent, millions of young Americans were excluded from receiving the payment -- with these exceptions. Those who were between the ages of 17 and 24 and who were also claimed as child dependents didn't get a check of their own due to the tax code definition of a child. So if you're 17 or older, you're not considered a child under the new plan (and the CARES Act), even if you still live at home.
Although some lawmakers have pushed to expand the definition of a stimulus check dependent regardless of their age, the $900 billion bill has kept the CARES Act definition, but increased the amount from $500 to $600 per qualified child. It isn't clear if a successful $2,000 stimulus check for adults would also retain the $600 provision for child dependents.
Note that even if you're not considered a child by stimulus check definitions, you also may not be deemed an adult who would receive their own stimulus check. Here's how to determine if you count as an adult or a dependent for stimulus checks.
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