Ever since the American Rescue Plan started handing out stimulus checks to United States citizens, such payments have become essential. Although they are no longer officially called stimulus checks, it is common to call them by this name in order to fully understand what kind of extra payment they are.
Stimulus checks are payments that are completely separate from other benefits such as SNAP Food Stamps, Supplemental Security Income, or Social Security payments such as retirement or disability benefits. Therefore, it is not necessary to have one of these payments to get the extra money.
Still, you have to watch out when cashing these checks in case they are not compatible with some other monthly payments. Most of the time we should have no problem cashing stimulus check and other extra payment, but we should take a good look at the conditions.
If we meet the requirements, we should be able to get a new check in November, which is very good news. If we are not able to get this stimulus check, we should not worry too much, since most of the time new checks come out every month to help financially needy Americans.
WHO CAN GET THE NEW STIMULUS CHECK IN NOVEMBER?
There are several different groups that can get one of these new payments. The important thing to keep in mind is that the entity that will be issuing these extra payments will be the IRS. What does this mean? Very simple: if we want to get one of these payments it is mandatory to have all our taxes paid on time.
Since the taxes must be paid, in order to be eligible to get these checks we must have sent the Tax Returns from previous years on time. This is essential not only to obtain stimulus checks, but also to avoid problems of all kinds.
Regardless of our taxes, we must take into account the AGI. Through the AGI we will be able to determine if we will get a new extra payment or not. These are the different groups that can access the check:
- Individuals with a maximum AGI of $75,000.
- Heads of household with a maximum AGI of $112,500.
- Already married couples with a joint return and an AGI of up to $150,000.
- Parents who are eligible to apply for the Child Tax Credit.
The maximum payment for this stimulus check can range from $250 to $3,200. However, each check is completely individual and will depend on our Tax Return and AGI.