Third stimulus check calculator: how much for adults, kids & couples?
After President Joe Biden signed the American Rescue Plan into law, stimulus payments began going out to American families. Find out how much you can expect.
President Joe Biden's $1.9 trillion American Rescue Plan was signed into law last Thursday and no sooner had he put pen to paper than the Inland Revenue Service put the wheels in motion to get those much-debated $1,400 third stimulus checks out to the American people.
The first wave of payments started to arrive in bank accounts over the weekend and on Monday the president confirmed that his administration has set the target of getting 100 million payments out within the next ten days.
Third stimulus check: how much per person?
Below we have provided a summary of the parameters set out in the stimulus relief bill:
- Up to $1,400 for qualifying individuals. (Am I eligible?)
- $2,800 for couples who file a joint tax return.
- $1,400 for each dependent child under the age of 17.
- $1,400 for a qualifying adult dependent. (This is new for the third stimulus check: adult dependents weren’t included in the last round of stimulus checks, so it is possible that they may also qualify foran additional $600 retroactive payment)
Note that there will be no stimulus payment provided for individuals earning $80,000 or more, married couples filing jointly earning at least $160,000, and heads of households earning $120,000 or more.
Adult dependents will, however, receive the full $1,400, assuming that the taxpayer claiming them qualifies.
Third stimulus check: calculate what you're entitled to
To calculate the approximate amount that you may qualify for based on your individual circumstances, Forbes have devised a calculator based on the details of the new bill. Answer just four questions and find out what you can expect to receive.
Stimulus relief bill: presidential promotional tour
With a promise of "shots in arms and money in pockets," President Joe Biden on Monday kicked off a week of promotion and travel to herald and explain the $1.9 trillion pandemic relief bill he signed into law last week to help the country move past the covid-19 pandemic.
Biden and a slate of advocates including Vice President Kamala Harris and first lady Jill Biden are being deployed to various states and to television this week as part of what the White House is calling the "Help Is Here Tour" to tout measures that include a $1,400 check for most US households.
"Help is here, and hope is here, in real and tangible ways," Biden said in remarks from the White House.
"Shots in arms and money in pockets. That's important."
Biden said his administration would reach two important goals over the next 10 days: 100 million shots in people's arms and 100 million checks in people's pockets or bank accounts.
"Shots in arms and money in pockets. That's important. The American Rescue Plan is already doing what it was designed to do: make a difference in people's everyday lives. And we're just getting started," Biden added.