Stimulus check math: The IRS calculations are fascinating, with sometimes unexpected results

Stimulus check math: The IRS calculations are fascinating, with sometimes unexpected results

Whether it’s the first stimulus check or the second, the IRS’ method for determining the size of your payment may not work like you think. We calculated scenarios, and explain what it could mean for a second check.

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If and when Congress does approve a new economic stimulus package with a second round of checks, the size of your payment could largely depend on any new rules that affect dependents, even if the $1,200 and $2,400 caps stay the same.

Right now there are two proposals to cast a wider net for dependents. One would allot more money for children (e.g., $1,000 instead of $500), and the other would include more dependents (e.g. $500 for college students and older parents who live with you). 

Both would potentially increase your family’s overall pool. Remember, the bigger the sum a family starts with, the bigger the check they are likely to receive after the IRS makes its deductions based on your AGI. 

Source: cnet.com


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