Third stimulus check update – Here's who will be getting the $1,400 payment in Biden's Covid relief billMarch 11, 2021
AMERICANS are eagerly awaiting to find out whether or not they will qualify for a $1,400 stimulus check after Biden's bill was passed yesterday.
Despite the Covid relief package being a whopping $1.9trillion, not all Americans will be eligible for the stimulus.
The latest round of cash will start to be phased out for individual tax payers who earn $75,000 a year.
But once you hit the $80,000 annual gross income (AGI) limit, you won't be able eligible for the help at all.
Moderates also forced tightened eligibility for couples hoping to obtain stimulus checks, now phased out completely at pair making $160,000.
However, those that fit the bill will receive $1,400 if they are single, and $2,800 if they are in a married couple.
This also means that a family of four could see a package of up to $5,600.
Like the single-taxpayer cut off, there's a $120,000 AGI cap on how much heads of households can earn to be eligible for the help.
Those who are non-US citizens, or non-resident aliens may have some trouble cashing in on the new bill too.
If the IRS considers you to be a non-resident alien because you haven't passed a green card or substantial presence test, then you won't be able to claim the cash.
This is a tightening of the rules put in place for the first round of checks when non-residents needed a social security number and to live and work in the US to qualify.
It's not yet clear if you'll be eligible for the check if you're considered a non-citizen but you're married to a US citizen.
On Wednesday, Biden's relief bill was passed through the House at 220 to 211 votes.
Just minutes before the vote was confirmed, White House Press Secretary Jen Psaki confirmed that the president will sign the $1.9trillion Covid relief bill on Friday afternoon.
However, Biden's name will not appear on this third round of stimulus checks. Psaki said this is in order to "expedite the payments and not delay them."
This means that Americans could begin seeing the cash drop as soon as this week.
Following the approval news, the Treasury confirmed that the first batch of $1,400 stimulus checks will be going to those who gave their direct debit information in their 2019 and 2020 tax filings.
Those who received their cash via direct debit for the first and second round of checks also received theirs quicker.
Following those with a direct debit, the next round of recipients will be those who have their information on file with the Internal Revenue Service due to other government programs.
For Americans that do not have their banking details on file with the IRS, they will receive paper checks and EIP cards.
Psaki said on Tuesday that the Treasury Department and the IRS has been working to get payments out by the end of the month.
"The IRS and Bureau of the Fiscal Service are building on lessons learned from previous rounds to increase the number of households that will get electronic payments, which are substantially faster than checks," she said.
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