![]() ![]() ![]() That means that someone who lost their job or otherwise saw their income drastically fall in 2020 may be eligible for more money than they first received. The first two rounds of stimulus payments were based on a taxpayer’s 2019 income. The smaller payments phased out faster cutting off individuals who earn more than $87000 a year and couples without children earning more than $174000 a year. See full list on cnn.com Not everyone who received money in the initial round of $1200 payments that went out last spring was eligible for the second $600 check. Those who aren’t required to file federal taxes because they earn too little may have also missed out and will have to file a return this year to get the cash. ![]() Eligible people who have moved or changed bank accounts since they filed their 2019 tax returns may not have received the money but can claim it on their 2020 tax return. The IRS was required to issue the payments by mid-January so that it could move on to processing this year’s tax returns. While it’s possible that some paper checks or debit cards are still in the mail there could be some eligible recipients who haven’t received their money and will have to claim it on their 2020 tax return. CNN › 7 › politics CachedOverviewWho is eligible?Congress is considering a third round of paymentsThe Internal Revenue Service has sent out $600 payments from the December stimulus package to all of the eligible taxpayers it has on file as Congress continues to negotiate over a third round of checks. › 7 › politicsSecond stimulus checks IRS says all $600 payments from. CNN Second stimulus checks IRS says all $600 payments from. Second stimulus checks IRS says all $600 payments from. ![]()
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