After the first set of stimulus checks made their way successfully into the homes of US residents, talks about the second set of stimulus checks are on its way. As the Trump administration takes executive actions, the dilemma looms over whether the second stimulus checks will be given assent by the Senate and the house.
Whether you are eligible for the second stimulus checks to be issued in 2020 is still a matter of question. Various factors need to be worked out before the issuance of another set of stimulus checks. The first and foremost factor is whether the Trump administration’s executive plan is able to obstruct negotiations and resume discussions.
It is also questionable whether Congress can pass the other set of stimulus checks. Discussions need to be held whether an individual’s eligibility remains unchanged for the second stimulus checks after the first set. It also needs to be determined whether the individual is falling into the right category in terms of receiving the stimulus checks.
Meanwhile, no particular date has been fixed to resume discussions. But, the Congress and the Senate have indicated towards resuming the negotiations on the second stimulus checks.
The majority leader of the Senate, Mitch McConnell said on Tuesday, “It’s time for everybody to get back to the table, and let’s get a deal.” He further reassured that there should not be any dispute about the upcoming round of direct cash payment. “Let’s get this assistance directly to the people who need it.” He added.
Here’s what you need to know about the eligibility criteria of an individual for the second stimulus checks under the Trump administration. The qualifications for the stimulus checks might be passed in the form of a bill.
Are You Eligible if the HEALS ACT is Passed?
Discussions are on its way about the second stimulus checks that are to be issued by the Trump administration. However, if the Heals Act is passed as a law, the eligibility criteria for receiving the stimulus checks will be similar to that mentioned in the CARES ACT with a new allocation for dependents. The CARES ACT criteria include:
1. A single resident of US having AGI or Adjusted gross income less than $99,000
2. A household head having an income under $146,500.
3. A couple without children but filing for the stimulus checks together.
4. Any dependent irrespective of their age.
The CARES act allowed dependents under 16 years of age to receive $500. It also specified that students of college under 24 years were not permitted to receive the stimulus checks. Meanwhile, the Trump administration has decided to exclude prisoners as well as people who died recently from being allowed to receive the second stimulus checks.
Eligibility Guidelines as per the HEROES Act
On 15 May, the House of Representatives put forward the eligibility norms mentioned under the HEROES Act. The proposal advanced by the Democrats includes a wider eligibility standard for stimulus checks. The President and Senate Republicans have already objected to the proposal. The following includes the parameters for being entitled to the stimulus checks.
1. An individual whose income was under $99,000 as per the AGI from the tax returns filed by an individual in 2018 or 2019, whichever is more recent.
2. Students of college, dependants who are above 17 years of age, parents of taxpayers and disabled relatives.
3. Families with up to five members having a limit of $6000 per family.
4. Recipients of SSDI
5. Individuals who are not citizens of the US but pay taxes via individual taxpayer identification number and not social security number.
Individuals Excluded from the CARES ACT
The CARES ACT which was passed as a law in March excluded the following individuals from receiving the first set of stimulus checks.
1. Single taxpayers having AGI more than $99,000
2. Household heads having AGI more than $136,500
3. Couples who are married and has an AGI more than $198,000
4. Individuals above the age of 16 and below 24 years.
5. Non-resident aliens, as per the definition of the US government.
How Far is Congress from Finalising an Agreement on the Eligibility Parameter?
The discussions about the second stimulus checks are to resume in the near future. The Trump administration and the Democrats halted their negotiations on the stimulus check the previous week. However, they have hinted at picking up the negotiation talks again. Even if the discussions lead to an agreement, the House of Representatives will hold a voting session for the bill in the latter part of August.
However, even if an agreement is made, the bill will not be passed as law without the President’s signature.
Presently it is difficult to know further details until the two sides further their talks on the stimulus checks. However, a fair idea can be made about the second stimulus checks once a law is passed.
In what capacity Will the Second Stimulus Check Be Delivered?
In the event that your ledger data is as of now on document with the IRS, it should be a consistent procedure. You will get an immediate store quickly. Or on the other hand the check will be on the way inside about fourteen days of the principal installments going out.
It will take longer in the event that you aren’t enlisted with the IRS. In case you’re not at the front of the line, your installment may be sandwiched with different IRS materials, for example, assessment forms.
The IRS additionally offers a “Get My Payment” finder apparatus from the U.S. Postal Service. It will send you a picture of the letter once it has been prepared. You can tail it right to your post box.
Will There Be a Third Stimulus Check?
A third Stimulus Check is viewed as impossible. A week ago, McConnell said this will be the “last” coronavirus help bundle. He had said that another one is unquestionable. All things considered, expect President Trump to perceive the political advantage of pushing for another round of boost before the November political race. In any case, it will be a hard offer to pick up help for that, particularly from individuals from his own gathering.
