Calculate your total second stimulus payment now that Trump signed the rescue bill

Now that President Donald Trump has officially signed into law the second round of stimulus checks as part of a larger economic relief package, you can start to work out how much money you and are family are eligible to receive by using our calculator to get an estimate for the size of your stimulus check.

While the new law authorizes $600 payments for adults and children under age 17, Trump continues to urge Congress to boost the amount to a $2,000 maximum direct payment per person instead of the current $600 upper limit. Monday, the House of Representatives passed a bill — called the Caring for Americans with Supplemental Help (CASH) Act of 2020 — to increase the amount of the second stimulus check to a maximum $2,000 per person. The Senate will likely take up the measure on Tuesday. 

So, how much money would your particular household be qualified to receive in a second stimulus check, and what are the qualifications for the next direct payment anyway? Our calculator can help you estimate your payment amount, following the formula that’s been laid out in the text of the stimulus bill. We’re watching closely the situation and will update our calculator if the final stimulus check sum rises to $2,000. This story has been updated with new information.

Estimate your total second stimulus check here

Before you use the calculator tool below, you’ll need your adjusted gross income (AGI) from your 2019 federal tax return: find that figure on line 8b of the 2019 1040 federal tax form. (If you don’t typically file taxes, we share more details below.) To estimate the amount of the second check, enter all your child dependents age 16 and younger. A single taxpayer claims no dependents, and a head of household does not file jointly with a spouse and claims at least one dependent.

Stimulus check No. 2: Eligibility basics you should know

Broadly, here’s who is eligible for money with the second stimulus payment. With the new law, payments top out at $600 apiece, and as you reach the upper AGI limit, the amount of your check will decrease. A family of four that qualifies, for example, could receive up to $2,400. For a complete breakdown, check out our stimulus check qualifications guide.

To get the full $600 stimulus per person, either:

• As an individual without qualifying children, you have an adjusted gross income of up to $75,000 (this completely phases out at $87,000, down from the $99,000 used for the first check).
• You file as the head of a household (you claim children) and earn under $112,500.
• You file jointly without children and earn less than $150,000 and no more than $174,000 (down from $198,000 from the first check).
• Any dependent child under age 17 will count for an additional $600.

Note, if you don’t qualify for a second stimulus check based on 2019 data but you would qualify based on your 2020 financial situation, you will not receive a second check this year. However, you can get that amount as a credit against your 2020 taxes.

If you qualify based on 2019 tax information but will be over the limit in 2020, you will receive a second check and do not need to repay it.

How would my second stimulus check get to me?

If the IRS has your banking information on file, either from your federal taxes or from the first stimulus payment, your payment could come directly to your bank via direct deposit, starting in about a week or less. The Treasury Department said as of this summer that about 75% of recipients were paid via direct deposit, 22% by paper check and 3% through a prepaid EIP card.

When could the IRS begin sending out checks?

Soon. On Dec. 21, Treasury Secretary Steven Mnuchin said, “The good news is [direct deposit] is a very, very fast way of getting money into the economy. Let me emphasize: People are going to see this money at the beginning of next week.” 

Starting in the new year, the IRS will send out payments on paper checks and prepaid EIP cards to those for whom it does not have banking information on file. But sending the payments shouldn’t drag on for months, as the first payments did. By Jan. 15, if the IRS has not sent your payment — or sent the wrong amount — you can claim your money when you file your taxes this year.

If I’m not required by law to file any taxes, what do I do?

As with the first checks, the IRS will automatically send stimulus checks to many who normally aren’t required to file a tax return — including older adults, Social Security and SSDI and SSI recipients, certain veterans and railroad retirees. The IRS refers loosely to this group as nonfilers.

If you fall in one of these categories, enter your best guess in the calculator where it asks for your adjusted gross income.

Who might not qualify for the next stimulus check?

We have a list of people who may not qualify for a second stimulus check. If you are over the income limit, a nonresident alien or a dependent 17 years of age or older, you won’t qualify for a check. The People’s Policy Project think tank estimates 13.5 million adult dependents will be excluded under the requirements, including 7.3 million students.

For everything to know about the second payment, see what else is in the new stimulus legislation, when the IRS could start sending checks and what we know about renewed federal unemployment benefits in the new law.