Under the HEROES Act, a second round of stimulus checks would be sent out, but the amount could be more—or less—this time under a new set of criteria.
Americans could see another round of economic impact payments but the amounts this time could be more—or less—depending on an individual's dependents and their citizenship status.
Like in the CARES Act, a $2 trillion stimulus package that passed in March, to receive the full amount of $1,200, an individual must have a modified adjusted gross income of $75,000 or less. In the case of a head of household filing, that income cap increases to $112,500 and is further increased to $150,000 for those filing joint returns. People filing joint returns can receive up to $2,400.
Under the CARES Act, $500 payments were limited to qualifying children under the Child Tax Credit, according to Senator Chuck Grassley. Among other qualifications, it requires that a person is under 17 years old. Economic stimulus checks are prepared for printing at the Philadelphia Financial Center on May 8 in Philadelphia. The House of Representatives passed the HEROES Act on Friday, which would allow for a second round of economic impact payments, although the amount a person receives may be different from the first time around.Seeing a second stimulus check hit bank accounts is far from guaranteed.
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