The Third Stimulus Check: Who Gets the Full $1,400, Payment Timeline and Income Qualifications
The Third Stimulus Check: Who Gets the Full $1,400, Payment Timeline and Income Qualifications

House Democrats this week proposed an additional $1,400 in direct payments to individuals as Congress began piecing together a $1.9 trillion COVID-19 relief package that tracks President Joe Biden's plan for battling the pandemic and reviving a economy.

The plan would include a pivotal third stimulus check for $1,400 that President Joe Biden had said needed to be included in the stimulus package.

Under the proposed legislation from the committee, the third stimulus check would be $1,400 for individuals making up to $75,000 and head of households making up to $112,500. Joint filers making up to $150,000 would receive $2,800. For those above those levels, the stimulus check amount would begin to phase out.

There has been debate over what the thresholds should be for the third stimulus check, with some pushing for the cutoff to be lower than the first two rounds. The ins and outs of the final stimulus check change day by day as lawmakers inch closer to a complete package. As Congress begins piecing together the COVID-19 relief package, we now have a better idea of who will qualify for a third stimulus check and who won't.

As it stands right now, the bill includes a third stimulus check for up to $1,400, and an important change to the qualifications for dependents: extending eligibility to dependents of all ages rather than excluding anyone over the age of 16 from counting toward the family total.

Lawmakers are also considering whether dependents should be allocated the full $1,400 in stimulus check money as adults are, according to The Washington Post. That goes for dependents who are children, young adults or older adult relatives. The potential rule change could bring in far more money for families with dependents this time around, if a new stimulus payment is approved, which seems likely. The total your family could receive will also likely depend heavily on the outcome of a current debate to make the third check more "targeted.", according to Cnet. break down everything you should know about The Third Stimulus Check with Update Latest News.

When would I get a third stimulus check?

Whatever the size, it's looking like another round of stimulus checks may not land in bank accounts until mid- or late March, based on Schumer's time frame. The new Senate Majority leader acknowledged "that the next round of fiscal stimulus remains a month to 6 weeks away," Hammond noted on January 26.

After the relief bill passes Congress, it must be signed by the president. After that, the IRS would distribute funds through direct deposit, mailed checks and prepaid debit cards. If a package is passed by the end of March, people might get their checks starting by early April.

In the first stimulus payments in April 2020, which directed $1,200 to eligible adults as well as $500 per child, it typically took two weeks to several months for payments to reach people. The second round of checks, which sent $600 to each eligible adult and child, required about a week for the funds to arrive via direct deposit.

But in some cases people experienced delays in receiving the money due to problems with their account information.

Who would qualify for third stimulus check?

Under the proposal, the third stimulus check would be $1,400 ($2,800 for joint filers), plus an additional $1,400 per dependent.

Single taxpayers who make under $75,000 would receive the full $1,400 for their third stimulus check.

The stimulus check amount would then phase out for those single taxpayers making between $75,000 and $100,000 of adjusted gross income.

For head of household filers, the stimulus check amount would phase out between $112,500 and $150,000 and for joint filers it would phase out between $150,000 and $200,000.

Besides possibly lowering the income cap to qualify, Biden has proposed two changes that have been popular among Democratic lawmakers. The first would expand qualifications to dependents of any age, including 13.5 million more people, according to the People's Policy Project. That includes college students, older adult relatives and dependents of all ages with disabilities (not just those under 17 years old).

The second change to eligibility would include all "mixed-status households" with one or more family members who aren't US citizens. An example would be parents who aren't US citizens, but their US-born children are. The second stimulus checks made families with one US-citizen spouse eligible.

A targeted income limit is only one way a household could get less stimulus check money than the total, whatever it winds up being. We explore that here, including ways that changes in your personal life could have an effect, like if you got a raise in the past year, or if you claim fewer dependents this time around.

Who wouldn't qualify for the third stimulus check under the proposal?

It will have a $1,400 per person maximum, according to the latest reports, and it will be "targeted" so that Americans with the highest incomes won't get a full or partial check. "We need to target that money. So, folks making $300,000 don't get any windfall," Presidentt Biden said Feb. 5.

Under the proposed legislation, single taxpayers making more than $100,000 would not receive a third stimulus check.

Same goes for head of household filers making $150,000 or more and joint filers making $200,000.

A targeted check that leaves out individuals making $100,000 isn't too far off from the current stimulus check formula. Our stimulus calculator for the third check shows how a person who earns $102,900 a year could still get a partial payment of $5, for example, Cnet report.

The details released on Monday confirm that Democrats are not planning to limit the number of Americans eligible for stimulus payments in the third relief package, a shift from earlier discussions this month. Some Democrats had proposed limiting this round of stimulus payments to those earning less than $50,000 and couples making less than $100,000.

Meanwhile Republicans outlined a plan to send up to $1,000 checks to individuals earning up to $40,000 per year ($80,000 for couples).

Timeline of The Third Stimulus Check

The COVID-19 stimulus bill could clear the House of Representatives in two weeks and go to the Senate before the end of February, if House Speaker Nancy Pelosi and other Democrats have their way. If their plan to use a powerful political tool works, a third stimulus check could conceivably arrive in early March for the first wave of recipients. But whenever the bill does pass (assuming that happens), it doesn't mean everyone would get their funds immediately.

There are many variables that could affect you personally. For example, the 2020 tax season could have a dramatic effect on how and when you get your next payment -- we'll just have to see how it all pans out. Meanwhile, we've mapped out some dates the IRS and Treasury could start sending the next stimulus check, depending on who you are.

The IRS and the Department of the Treasury set a blistering pace to deliver the second stimulus checks, starting within days of former President Donald Trump signing December's stimulus bill. They had no choice. The language of the bill provided only a 17-day window to send the checks. There were millions of direct deposit errors, and now anyone missing stimulus money will have to claim it as part of filing 2020 taxes. (Yes, even people who don't otherwise file taxes.)

It's too soon to say if the IRS would automatically send a third check to recipients as it has done with the second stimulus checks, or if the money would be wrapped up into a Recovery Rebate Credit or something like it. We walk through more possible scenarios for the third stimulus check timeline here.


Some families could get more than before. Others would see less - Angela Lang/CNET

How some could get more money next time, even with a targeted check

A larger maximum total per person is an obvious way your household would see more money from a third check over the second, but there's more to it than that. Since the upper limit for the second check was $600 per adult, with an extra $600 per child dependent (according to the IRS' formula), more people hit the upper income limit for receiving a second payment. And that means they didn't actually qualify to get any stimulus money at all.

A third stimulus check could make more groups of people eligible to receive money (namely noncitizens who pay taxes), and bring a larger total check to qualified individuals and their families, including possible $1,400 payments to dependents. A change to your circumstances might also mean you qualify for more money this time. Here are other ways a third stimulus check could put more money in your pocket.

Do Americans really need the money?

Signs point to millions of households facing rising financial hardship as the pandemic worsens, which is causing some businesses to lay off staff and cut back hours.

According to AP, the financial need is greatest among lower-income households, with new research finding that families earning less than $78,000 spent the latest $600 stimulus checks quickly. But households earning more than $78,000 have largely socked away the $600 payments, according to a study from the Opportunity Insights Economic Tracker, a nonprofit research group led by Harvard economics professor Raj Chetty.

Yet almost half of households with incomes above $150,000 said they needed the stimulus checks for financial stability, according to a recent survey from Credit Karma. Almost 6 in 10 of all U.S. households are facing financial hardship, TransUnion found in a November survey.

The additional stimulus funds "will be essential to the financial stability of many Americans, including those who appear to be higher earners," Colleen McCreary, chief people officer at Credit Karma, told CBS MoneyWatch. "As the pandemic drags on, Americans are continuing to feel the financial crunch."

A new survey from found that more than half of Americans said the second stimulus check of $600 per person won't last them longer than a month. Most said they would use the money to pay household bills and day-to-day essentials.

Overall, Mr. Biden's stimulus plan would amount to roughly $3,500 per household, according to Oxford Economics. In other measures to support workers and help prop up the economy, he also wants to increase enhanced unemployment benefits to $400 a week through much of 2021 and has called for raising the federal minimum wage to $15 an hour.

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