With the new bill, Biden wantsfrom the first and second round. A could also mean that many people who were eligible for the previous payments are not eligible this time.
Here’s what you need to know about whether you will be disqualified from receiving a third check, if approved, based on what we now know. This is also what will happen
Individuals with an AGI of more than $ 100,000
Theafter $ 75,000, under the “targeted” incentive plan (see below). If your $ 100,000 or more, you are not eligible for a third party payment of any amount. However, if you earn between $ 75,000 and $ 100,000, you can get a cut of the check; you would receive the full amount if your annual income is less than $ 75,000 for the year. Here is you could receive.
Household heads earning $ 150,000 or more
As with the cutoff for the single taxpayer, household heads (people who do not collectively and) with an AGI of $ 150,000 or more are excluded under the new proposal. To get a partial incentive payment, you would need to make between $ 112,500 and $ 150,000. But to get the full amount, you need to make less than $ 112,500 if you are the head of the household.
Married couples filing jointly and making $ 200,000 or more
If you are a married couple filing jointly and have an AGI of $ 200,000 or higher, you will not be eligible for the third stimulus check under the new proposal. To be eligible for the full payment of $ 1,400, your combined family income must be less than $ 150,000. The amount you could receive will be gradually tapered after that amount until you reach the limit.
Non-US Citizens or ‘Non-Resident Aliens’
If you are considered a non-resident alien by the IRS, you will not be counted on the third stimulus check. The government defines a non-resident alien as someone who “has failed the green card test or the substantial attendance test”. For example, if you are studying abroad in the US.
At the first incentive check, non-residents were required to have a Social Security number and live and work in the US to qualify for benefits. However, in the second audit, the rules were changed to make this possibleto qualify for a second incentive check, even if they have a tax identification number (ITIN) from the IRS and not a Social Security number. See more below.
What about non-citizens with a partner of a US citizen?
If you are considered a non-citizen, you may or may not receive a stimulus check, depending on a number of factors. Under Biden’s proposal,with at least one family member who could be a social security number , assuming they meet the other requirements, including income limits.
What if you live in a US territory, such as Puerto Rico?
With the first two incentive checks, people living in Puerto Rico, the U.S. Virgin Islands, American Samoa, Guam, or the Commonwealth of the Northern Mariana Islands may have been eligible for payments. Whether these groups were eligible for an audit has historically been determined by the tax authorities in each area. These agencies were also instructed to make the payments. It’s probably the same situation for the third stimulus controls.
If you have never received payment for one or both of the previous incentive checks, you should contact your local tax authority for more information.
What if I am a non-filer and not filing taxes?
Ifand are usually not required to file income tax, you likely qualify for the third incentive check. However, if you are missing money from a previous check, you may have to go the extra mile to get your money by filing your taxes this year. If there is one , it is likely that you will have to file a claim during tax season 202 in a year. We will know more once a third payment is approved.
Will I be eligible based on my income for 2019 or 2020?
At this point, it’s still unclear what tax returns the IRS will base your personal incentive check on. In fact, more or less people may qualify depending on what year –– the IRS decides to use.
For example, if you made more than $ 100,000 in 2019, but earned less in 2020 due to circumstances (such as losing your job), you still won’t get paid unless the IRS leaves your 2020 tax return.
If you want your third check to be based on your 2020 taxes, be itand make sure you if you do that.
What if a family member has passed away since I filed my 2020 federal tax return?
It depends on(see above). For example, if the IRS complies with your 2019 tax return, it is likely that you will keep the amount you received for the deceased. On the first stimulus check, the IRS asked people to do that since the previous tax return. With the second check, if your spouse died in 2020 and your AGI was less than $ 112,500 per year, you would be eligible for the full amount of $ 600.
We will know more once a third stimulus check is approved by Congress.
For more information, hereand