When the third stimulus checks go out, how much will you get?

When the third stimulus checks go out, how much will you get?

Here’s what you need to know.

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To determine your eligibility for a stimulus check, the IRS will use your most recent tax return and will zero in on your adjusted gross income. That’s your taxable income before deductions.

The House bill would phase out the $1,400 payment amounts for individuals with adjusted gross incomes over $75,000. For heads of household, the threshold is $112,500, and it’s $150,000 for married couples filing jointly.

Those are the same income limits used for the first two stimulus checks. House Democrats toyed with restricting eligibility for a full payment this time to individuals earning less than $50,000; they ultimately decided against it, but the Senate could bring back the idea.

Source: finance.yahoo.com


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