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That means, Americans are getting a check soon that can help pay bills and boost the economy during these hard times.
However, one thing on many minds now is how much are we getting exactly?
And, we are here to help!
This Online Calculator Shows How Much You Might Be Getting In Your Relief Check.
Now, before you head over and take a look, keep in mind a few things – this is an estimation and is NOT a government approved calculator. It’s just to give you a rough estimate of what you may be getting.
Here is how it works:
First, you head over to to the online calculator and input answers into the boxes.
You need to know your AGI (adjusted gross income) from your 2019 taxes.
What if you haven’t filed 2019 taxes? Well, then you need your AGI from your 2018 taxes.
You also need to know the amount of children you claimed as dependents in the tax year you are inputing.
For example, if your child was born in 2019 but you haven’t filed taxes, you can’t include them in that number until your current years taxes are filed. Make sense?
Since I have 3 children, and the cut off for a single person is $75,000 and $150,000 for married couples, I input those values to give you an idea.
Who exactly qualifies for a payment? According to the bill, individuals earning up to $75,000 a year ($150,000 for married filing joint) will be eligible for the full $1,200 check. Reduced checks will go out to individuals making up to $99,000 a year (the payment amount falls by $5 for every $100 in income above $75,000).
Married couples are eligible for a $2,400 check as long as their adjusted gross income is under $150,000 a year. Reduced checks, on a sliding scale, will go out to married couples who earn up to $198,000. Married couples also will receive an additional $500 for every child under 17.
And in case you’re wondering, these checks should be going out within the next few weeks.