Do you qualify for the third stimulus check? And if so, how much will you receive?
The American Rescue Plan calculator created by Jasmine Mah, a web developer for Omni Calculator, will figure out what your Economic Impact Payment will look like based on your tax filing status, number of dependents, adjusted gross income and whether or not you filed taxes in 2019 or 2020.
U.S. residents with a social security number can qualify for a stimulus check, however, certain people who didn’t file taxes recently may still receive a payment.
Mah updates the tool as new developments arise in Washington, D.C., but says some users experiencing an exceptional situation to which the calculator is not applicable can find guidance in the tool’s FAQs or in the bill itself under 2021 Recovery Rebates to Individuals.
Officials at the Treasury Department and Internal Revenue Service said Friday that processing of the new round of stimulus payments has already begun, with the aim of having the first payments start showing up in bank accounts this weekend.
President Joe Biden signed the new $1.9 trillion rescue package on Thursday, the day after it won final passage in the House. The measure provides for payments to qualifying individuals of up to $1,400, with payments to a qualifying family of four of $5,600.
“The payments will be delivered automatically to taxpayers even as the IRS continues delivering regular tax refunds,” IRS Commissioner Chuck Rettig said in a statement.
It is estimated that 85% of Americans will be eligible for the payments and the goal is to have millions of the payments disbursed in the next few weeks.
Taxpayers who have provided bank information with the IRS will receive the direct-deposit payments, while others will get paper checks or debit cards mailed to them.
The Associated Press contributed to this report.