Second stimulus check in 2020: What’s the most money you could receive? It’s complicated

After no deal was reached on another economic relief package by the self-imposed Aug. 7 deadline, President Donald Trump stepped into the debate with an executive order and three memoranda on Saturday on the subjects of enhanced unemployment, evictions, deferred payroll taxes (which fund Social Security) and student loans. Trump did not address a second stimulus payment in Saturday’s executive action, so the total amount you can get in another round of checks now hinges on whether Washington lawmakers can strike a final deal.

Democratic leaders have signaled a willingness to keep negotiating. In a joint statement, House Speaker Nancy Pelosi and Senate Minority Leader Charles Schumer expressed interest in continuing the debate in the upcoming week.

“We agreed with the Democrats. We both want to send more checks to the American workers,” Treasury Secretary Steven Mnuchin said Sunday on Fox News. “We’ve said, let’s pass legislation on the things we agree on,” he added.

If talks for another COVID-19 relief deal resume, we have an idea about the next set of eligibility requirements to receive a second stimulus payment and even the upper limits that you and your family could expect. This story updates frequently to reflect the latest developments.

How much of the $1,200 second stimulus check could be heading your way?

The Senate’s HEALS Act proposes an upper limit of $1,200 per qualified person, but that doesn’t mean you’ll be able to get it all. Your tax filing status is one of the factors that helps determine your share.

The first stimulus check, part of the bipartisan CARES Act, left out child dependents who were 17 or older and university students under 24 years old. This new Republican plan would include $500 for dependents regardless of age, including children and adults you claim in your tax filings.

Stimulus check calculations

	Scenario 1	Scenario 2	Scenario 3	Scenario 4
Filed 2019 taxes?	Yes	Yes	No	No
Filing status	Single	Head of household	Married	Married
2018 or 2019 tax AGI	$80,000	$140,000	$130,000	$130,000
Dependents under 17 (CARES Act)	0	1	2	2
Dependents over 17 (HEALS Act)	0	0	0	2
Calculated check amount	$950	$1,325	$3,400	$4,400

The calculations can be tricky, and they depend on aspects of your 2019 taxes, such as your adjusted gross income (AGI) and whether you filed as single, married or head of household. We can’t say for sure that the figures above will match up to the IRS’ internal rubric, which were based on this calculator The Washington Post put together. 

But they could shed some light on what you might get if the HEALS Act were to pass as is.

What’s the biggest check your family may get?

Depending on how negotiations shake out, the total amount your family gets may change. Here’s a look at the caps put in place by all three main proposals so far.

CARES Act: With the CARES Act from March, which has now expired, there was no limit on the number of children who could count as dependents, as long as they were under 17 and claimed by the taxpayer on their tax return, according to the Tax Foundation. Each dependent would garner the taxpayer $500. Theoretically, a family in which two adults and six children under 17 were eligible for the full amount could receive $5,400.

Heroes Act: The Heroes Act, put together by the Democratic-led House and which has never been taken up or nixed by the Senate, would place a cap of $6,000 for households of five or more. Essentially, it proposes $1,200 for each adult and dependent, with a maximum of three dependents per family. 

HEALS Act: Similar to the CARES Act, the HEALS Act put forth by Republicans doesn’t mention a cap on the amount a family may receive. The difference is that it doesn’t limit dependents to those under 17 to qualify for the $500 payment.

How would the IRS send your payment to you?

While there’s no official plan yet, it’s likely that receiving this second stimulus check will work much like it did the first time around. If you filed taxes in 2018 or 2019 and included direct deposit information, it’s likely you can receive your check as a direct deposit. If not, you could get it in the mail as a paper check. Under the CARES Act, some people were also sent money in the form of a prepaid “economic impact payment” card, or EIP. 

When will Congress come to an agreement on the stimulus check?

That’s the (at least) trillion dollar question. Republicans and Democrats are still debating the details of the new proposal, including the total aid amount. As negotiations continue into next week, there’s still an opportunity to craft a bill that includes stimulus checks, which has bipartisan support. Here’s more on the timeline, including when the IRS could send the first checks.

If you’re still waiting for your first stimulus check, here are 10 possible reasons for a delay, what you can do if you think your payment is lost or has fallen through the cracks and if you could receive two refund checks from the IRS.

Julie Snyder and Shelby Brown contributed to this report.