The government uses an individual’s adjusted gross income (AGI), household income, the number of dependents in your household and other factors to determine your eligibility for stimulus check financial assistance. What’s more, some of these other factors changed with the third check, along with the income requirements. Those changes were to try to help more of the people most in need as well as others who may not have qualified for the other two payments due to their being claimed as a dependent by another taxpayer.
It’s important to note that even if you make just above the maximum income amount allowed for the full stimulus check, you can still qualify for a phased-out, or reduced, stimulus check based on your income as long as you make at or less than each check’s absolute income cap to receive financial assistance. This sliding scale ensures that more people are able to get some form of financial assistance to help their families during these times of need.
Per the stipulations laid out in the CARES Act, the first stimulus check had the following income requirements:
- Full amounts to individuals who earned up to $75,000.
- Full amounts to married couples who earned up to $150,000 filed jointly.
- Full amounts
- Reduced amount checks to individuals who earned more than $75,000 but no more than $99,000.
- Reduced amount checks to married couples who earned more that $150,000 but no more than $198,000.
- $500 additional payment for each dependent aged 16 or under for up to three dependents claimed.
The second stimulus check came from the Coronavirus Response and Relief Supplemental Appropriations Act and had the same income requirements for individuals and families. However, those with dependents could earn $600 per child dependent aged 16 or under and the maximum individual earning amount for reduced amount checks was lowered from $99,000 to $87,000.
The third round of stimulus checks came from President Joe Biden’s American Rescue Plan, which changed the income requirements and dependency qualifications. Only those who make less than $80,000 qualified for any stimulus check. However, adult dependents, such as college students, became eligible to receive the full $1,400 stimulus check. In addition, families could claim as many dependents as they had in their household and receive $1,400 per dependent, regardless of age.
Now that you know how much stimulus check money was given out and what income requirements you need to meet to qualify, read the next slide to find out where you can claim your missing stimulus checks.