Second round of stimulus checks could give parents $1,000 per child – DOUBLE the first payment
PARENTS could receive TWICE the amount of money they were sent for each child during the first round of federal stimulus check – if Congress ever decides on a second coronavirus relief package.
If negotiations between Senate Republicans and House Democrats pick up where they left off, a second Covid relief bill could include another stimulus check with more money than the first.
The second direct payment could bump up the original $500 allotted for each child dependent to as much as $1,000, according to CNET.
But the Internal Revenue Service's definition of a dependent for stimulus checks could change, which has left some families with smaller checks than their neighbors.
Other possible changes that could be made to payment qualifications could work in families' favors, especially parents with college-age children who don't earn enough to receive their own stimulus payment, the outlet reported.
It's possible that some parents might not receive any money at all depending on their legal status and if their child support situation.
The plea for a second coronavirus relief package is gaining momentum as President-elect Joe Biden’s push for an “immediate” stimulus bill is being backed by a more than 100 economists.
A second stimulus check is expected to max out at $1,200 for individual adults, but changes to the eligibility rules could lead to a bigger check for families with several dependents.
Several proposal have been put together, however none of which have become law.
There have been several proposals tossed around in stimulus talks and and even the most recent news about expanding the definition of a dependent.
To find out exactly how much you'd be able to potentially receive in coronavirus aid money if you're a parent, read our story here.
Source: Read Full Article