That’s right, your second stimulation test might be smaller, if …

Congressman unveiled three new stimulus bills Tuesday, two of which ostensibly missed another direct payment of up to $ 1200 per person. (One, a private proposal from top Democrats to top Republicans, was not made public.) On Wednesday afternoon, Democrats from President-elect Joe Biden to House Speaker Nancy Pelosi and Minority Leader in Senate Chuck Schumer, threw their weight behind a $ 908. billion dollars for 2020, with sights set on another stimulus bill in 2021 – which could include the popular stimulus control.

“In the spirit of compromise, we believe that the bipartisan framework introduced by senators yesterday should be used as the basis for immediate bipartisan and bicameral negotiations,” Pelosi and Schumer said in a joint statement on Wednesday. “Of course, we will suggest improvements, as well as others, but the need to act is immediate and we believe that with good faith negotiations we could come to an agreement. ”

Each time Congress approves a new stimulus payment, the qualifications may change in a way that could result in greater or small checks for tens of millions of people (although some may not be eligible at all). Until eligibility is final we can guess how much stimulus money your household could receive. Read on for more information. This story is updated regularly.

Your next potential raise test: 1 key thing to know

in the first round of dunning checks, the IRS has mostly used your most recent federal income tax return (2019 0r 2018) when calculating your total payment (people who generally do not file income tax returns were also eligible in many cases). But some people who qualified for a check have experienced personal or financial changes after depositing that could affect a future payment in one way or another.

New job? Or did you win more overall?

Your adjusted gross income, or AGI, is a term normally used for the IRS annual tax return to describe your total income, including assets (such as sales of shares, credits and deductions, or an inheritance, for example) that do not fall under your usual salary. The first stimulus check, and most likely the second, will cut you off if your AGI goes over a certain income limit.

There is a huge correlation between your tax status and your stimulus checks, and any change in your AGI could increase or decrease the size of your check.

For example, if you received all of the $ 1,200 per qualified adult with the first stimulus check because your AGI was under the income limit, but then you got a promotion or a new job that pays more (congratulations), then your check may be smaller next time – since the IRS pays on a sliding scale – or you may have exceeded the threshold and no longer eligible. All in all, that’s a “good” problem to have.

Did you have more dependent children earlier this year than you have now?

Age is a big factor in how much stimulus money a household receives, but maybe not the way you think. The elderly are in many cases entitled to a stimulus check. In the first round of direct payments, households received an additional $ 500 for each “dependent child.” This is a legal minor aged 16 or under.

Interestingly, the IRS definition of a dependent child for your taxes (23 years of age or younger and financially dependent on the filer) is not the same set of terms as those used for stimulus checks.

If the rules remain the same (and there is an indication that they cannot), any older dependent you requested for the first check may no longer have qualified, meaning you could get $ 500 less if the rules stay the same.

Are you owed child support or have you changed the way your dependent is claimed?

In most cases, any stimulus check you receive is free to use as you see fit. However, an exception set out in the CARES Act of March was child support. If you owe child support to your child’s other parent, you can have some or all of your stimulus check seized. If you received an additional $ 500 for how you and the other parent filed a dependent claim (it’s complicated) then changed the way you filed your 2019 tax reserve (for example , if the other parent got full custody), you can’t get the extra $ 500. Here is more information on child support situations.

Do you have debts to creditors or private banks?

Normally, your stimulus money cannot be seized to pay rent or federal tax. There are some exceptions, however, including the child support situation above. If those rules don’t change with the next stimulus bill, then there are two groups – private creditors and banks – who could legitimately seize all or part of your money on the first and possibly the second check.

You could be disqualified if certain stimulus laws change

From the terms of the the second stimulus check is not yet finalized – and won’t be until the incumbent president signs a bill – it’s not clear how or not they can change. There’s also how the IRS can interpret the law and act or withhold stimulus funds. For example, after the CARES Act was signed in March, the IRS first sent people in jail and jail a stimulus check, then requested the return and stopped issuing new checks. A recent decision by a federal judge has revived them.

If this law and others concerning citizenship status in the United States, the United States, or overseas, were to change, this could make a person eligible to receive the first payment disqualified for a second check.

If you have moved, have you provided the IRS with your new address?

If you have moved as a result of the COVID-19 pandemic and you have not filed a change of address form with the USPS or IRS (a good action to take), the agency may not know where to send a paper check or EIP card. If you received your first delivery of stimulus by direct deposit, the IRS will likely resume that route. If you have changed your bank account, you can run in a heist or need contact the IRS to file another claim.

You will likely need to file a claim if there are IRS errors or missing steps

he arrived with the first check and could easily happen with the next one. Clerical errors and complex rules can cause your household to receive less money on a second stimulus check than you actually get – for you and your dependents. Or maybe you don’t normally need to file your taxes and miss a rare extra step you need to take. Perhaps you have moved (see above).

Whatever the reason, if there is an issue preventing you from receiving some or all of your stimulus money, you should be able to request a refund. The IRS is currently sorting those dunning payment omissions now for a wide range of groups, and probably will do so again if a second check has just been.

Has anyone in your family died since your last tax return?

Our condolences. If your household received a stimulus check that included a spouse or dependent child who died between your last tax return and receipt of the second stimulus check, the IRS is likely to send a smaller amount if your status as a tax return, deductions, credits or modified AGI. If the person is recently deceased (by the time the next check arrives), the IRS requests a refund of the payment.

For more on the revival, here’s what President-elect Joe Biden could do if another stimulus bill does not pass when he becomes president, and everything you need to know about dunning checks.