$ 1,400, $ 600, $ 1,200 Stimulus Checks: Biggest Differences From

The purpose of the third check is the same: Get stimulus money in people’s pockets ASAP. But Congress is taking a different path to achieve this goal, changing who would qualify for a payment and how much they would receive. The result is, the new payment of $ 1400 could be very different from many that received the first check for $ 1,200 or this second payment of $ 600.

The new round of stimulus payments are part of the nearly $ 2 trillion relief package that democrats are push to approve in two weeks. In addition to sending payments of $ 1,400 to individuals and dependents, the emergency bill it is now with the Senate is set to renew unemployment benefits until August, increase funding for Distribution of COVID-19 vaccine and potentially increase the federal minimum wage rate of $ 15 an hour.

Over the past year, we’ve studied how Congress crafted the first two payments to help struggling families and stimulate the economy. Reading the just passed version of the House Bill (PDF), we also get a good idea of ​​how lawmakers intend to achieve the same goals with the third check. Here is how the three stimulus controls are similar and different.

Each stimulus test is different from the others

With each round of checks, Congress reworked the payment amount and eligibility elements. Although we know many of the proposals details of the third stimulus check, there is a joker. The IRS is in the middle of the tax reporting period, so it is difficult to know if the agency is not able to reverse these third payments in a few days, as was the case with the second stimulus payments, or if there might be a delay.

Three stimulus controls, compared

	Third check (in progress)	Second check	First check
Maximum total (per adult)	$ 1,400	$ 600	$ 1,200
Dependents (package)	$ 1,400 (all ages)	$ 600 (16 and under)	$ 500 (16 and under)
Income to receive the maximum amount	Less than: $ 75,000 (single); $ 112,500 (head of household); $ 150,000 (married)	Less than: $ 75,000 (single); $ 112,500 (head of household); $ 150,000 (married)	Less than: $ 75,000 (single); $ 112,500 (head of household); $ 150,000 (married)
Upper limit for a single taxpayer	$ 100,000	$ 87,000	$ 100,000
Upper limit of the head of household	$ 150,000	$ 124,500	$ 146,000
Joint deposit of upper limit	$ 200,000	$ 174,000	$ 198,000
Citizenship	Mixed status families, where a member has a social security number	Citizens and non-citizens with a social security number	Citizens and non-citizens with a social security number
Date approved	Before March 14	December 27, 2020	March 27, 2020
First payments sent	To be determined	December 29, 2020	April 13, 2020
Final payments issued	December 31, 2021	February 16, 2021	February 16, 2021
Number of payments made	To be determined	Over 147 million	Over 160 million
Total amount distributed	To be determined	142 billion dollars	$ 270 billion

For more information, here is what you need to know the dunning checks today, including how to claim any missing stimulus money on your 2020 tax return and how track your tax refund online.