The virtual calculator to estimate how much money you would receive in case of a third stimulus check of $ 1,400 minimum | The State
The Forbes medium launched its own calculator for Americans to calculate the estimate of money they would receive in the event of a third check.
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JESHOOTS-com / Pixabay
Days before its inauguration as President of the United States, Joe Bidenannounced his “American rescue plan” as part of the economic measures to fight against the crisis unleashed by the coronavirus.
An essential part of this initiative, which would involve a disbursement of $ 1.9 billion dollars, is a third stimulus check of $ 1,400 dollars that would complement the $ 600 of the second “Economic Impact Payment” distributed by the Internal Revenue Service (IRS) in coordination with the Treasury Department since December.
Biden Plan for $ 1,400 Checks and “CASH Act”
Biden’s plan is consistent with legislation presented in the House of Representatives named “CASH Act”.
The measure was presented on December 24 by the chairman of the Committee on Forms and Means of that legislative body, the Democrat Richard E. Neal.
Neal introduced “Caring for Americans with Supplemental Help (CASH) Act of 2020” to increase the base money amount from $ 600 to $ 2,000.
The bill came amid debate in the U.S. Congress for checks for $ 2,000, which was pushed by outgoing President Donald Trump at the last minute. “CASH Act” was approved by the Democrats in the House, but it was not considered in the Senate, with a Republican majority.
In the event that the members of the new federal Congress accept the new president’s proposal, it is very likely that Neal’s project will be the basis for speeding up the discussion of a third minimum stimulus check of $ 1,400.
Same eligibility requirements as the second stimulus bill
CASH Act follows the same eligibility guidelines as the “Coronavirus Response and Relief Supplemental Appropriations Act of 2021”, passed last December and under which the $ 600 checks are distributed.
Under the CASH Act, each eligible individual would be paid $ 1,400. In the case of minor dependents, it is the same amount for each one.
How to compute payment of third stimulus check with the computer?
Based on the above, the Forbes medium launched its own calculator for Americans to calculate the estimate of money they would receive in the event of a third check.
To perform the calculation, the user must answer at least three boxes online: if he filed taxes in 2019, if he filed individually, jointly or as head of household; and annual income.
If there are dependents in your household, you must also add each of them to perform the calculation.
Here you can access the Forbes calculator
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