Second Stimulus Check: WHO QUALIFIES? (New Rules + Retroactive Pay)
WILL THERE BE A SECOND STIMULUS CHECK // HERE'S YOUR SECOND STIMULUS CHECK UPDATE FOR MAY 14TH. WILL YOU QUALIFY FOR THE SECOND ROUND OF STIMULUS CHECKS? THERE ARE NEW RULES
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Alright so as far as who would be eligible it's pretty much the same as the first stimulus check... if you're single the income limit is 75,000... head of household its $112,500 and married filing jointly its $150,000 then it phases out to nothing in increments... basically just like last time... but there are a couple of other huge differences... the first one is for dependents... the word dependents is actually going to be used and fixed in the language of the first stimulus package instead of the word child and that basically means two things... first that the age of dependents now doesnt matter... so college students and adult dependents who are 17 years or older will now become eligible.... in two things... by fixing the language in the first bill and actually making the effective date when the first bill was enacted... means that if you have an adult dependent who didnt get anything the first round... you'll actually going to retroactively get their $500 from the first round of stimulus money... and for the second round you're going to get their money as well but this time it's $1,200 for up to 3 dependents.... so let me explain this clearly... if you're a family of 5... 2 adults and 3 children.... under the first bill... you received $1,200 for yourself... $1,200 for your spouse... and $500 per child meaning the total was $3,900.... now with the new stimulus bill.. you'll get $1,200 per person.. so your household will end up getting a total of $6,000.... now for adult dependents or college students... if you have a college student in your household or an old family member that you care for and carry as a dependent on your tax return... they didnt get their own stimulus check because they were dependents and you didnt get $500 for them because they were over 17 years old.... now that's changing... and if this bill passes... you're going to get the $500 from the last bill for you adult dependents... PLUS get $1,200 for them under this new bill with the second stimulus check.... so this is very good news... because it really didnt make sense the first round to screw over adult dependents by not giving them their own money and also not giving the person claiming them the dependent money.... didnt make sense... so I'm glad they're fixing this now.
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