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Here’s who qualifies for a $1,400 stimulus payment under the American Rescue Plan

House Democrats passed the $1.9 trillion American Rescue Plan early Saturday morning, which includes a provision for a third stimulus check worth up to $1,400 for taxpayers and each of their dependents.

Individuals earning an adjusted gross income (AGI) up to $75,000 (and married couples earning up to $150,000) will receive $1,400 each, plus $1,400 for each dependent. That means an eligible family of four will receive $5,600.

After those income thresholds, the payments phase out. Individuals earning an AGI over $100,000 per year and couples earning over $200,000 will not receive a check.

Unlike the previous two payments, adult dependents qualify for this round. A previous report from the American Enterprise Institute estimates that as many as 26 million more people — mainly college students, disabled adults and elderly Americans — will now be eligible for a payment. The check could arrive as soon as next month.

The payments are based on either 2019 or 2020 income. That means taxpayers may want to file their taxes before the bill passes if that would net them a larger stimulus payment.

Source: https://www.cnbc.com/2021/02/27/who-qualifies-for-a-1400-dollar-stimulus-payment-under-the-house-bill.html