Americans may be excited for a $1,400 stimulus check to come in, but not everyone will receive that amount if they earn too much. Your adjusted gross income (AGI) on your 2019 taxes influences how much the government will send you.
If you did not file a 2019 tax return, have not registered with the IRS or do not receive Social Security benefits, you may not get a payment right away. However, you can claim your government stimulus check if you meet the requirements.
The number of people eligible for the second stimulus check is about two million less. Around 16 percent of households in the country will not receive the full rebate amount. The decrease of eligibility for the stimulus check is because fewer people meet the income requirements.
Individuals who are ineligible for a stimulus payment include the following:
- Dependents who are 17 years of age or older
- Those without a Social Security number
- Nonresident aliens
- People who earned too much income in 2019
The government uses your tax returns from 2019 to determine if you meet the income limit.
If you did not file a 2019 tax return, the Internal Revenue Service (IRS) will not send you a stimulus payment. Unlike the first round, the IRS will not look at your 2018 AGI.
As a single tax filer, you are eligible for all of the $1,400 if you earn less than $75,000. The IRS will send you a reduced amount if you earn between $75,000 and $80,000. This reduced amount will vary depending on your AGI in 2020. For instance, you will receive $1,120 if you earn $76,000.
You will receive a payment of $2,800 if you and your spouse filed jointly and earned less than $150,000. If your income was between $150,000 and $160,000, the IRS will calculate a reduced amount.
The government provides additional money for young children. If you had a baby in 2020, the IRS does not know you have a dependent. Parents can make sure they receive the maximum amount when they do their taxes.
Fortunately, you can still claim missed payments or missing funds when you file your taxes. You can complete the forms with your 2020 tax return to claim the first two stimulus payments, as they were both part of that tax year. For the third payment, you can file the claim with your 2021 tax return.
You may not file taxes normally because of earnings, but you can still qualify for stimulus payments and tax credits. Go to the IRS website and search for the Non-filer Sign-up Tool. This feature is typically available if you earn less than:
- $24,800 as a married couple filing jointly.
- $18,650 as a Head of Household.
- $12,400 as a single filer.
If you miss the November 15th deadline to receive the monthly Child Tax Credit payments, you can still claim the $3,000 or $3,600 when you file next year’s taxes.