The IRS is in the middle ofof to those who are . And if you're age 65 or older, you receive or you're , you will likely receive a ( ). It may be different, however, for individuals with from investments or other sources.
The total amount of this third check also depends on how manythis year (if any), or if you're claimed as a dependent on someone else's taxes. may also be a deciding factor this time if you and it's by the IRS.
We'll explain everything that could affect your-- from to your , pension and as well as if someone on their taxes. Also, if you're still missing money from the , you'll need to claim it as a on your 2020 taxes, . This story has been updated recently.
Who does the IRS categorize as an older adult?
Anyone aged 65 or older at the end of 2020 is considered a The IRS notes you are considered age 65 on the day before your 65th birthday.that year and beyond. (If you have questions about citizenship requirements, see more below.)
How do I know if I'm eligible for a third stimulus payment?
For the first and second stimulus checks, whether you were eligible for any stimulus money (and if you were,) depended on whether you were and the amount of your from your federal tax filing. Your AGI is your gross income minus any eligible adjustments that you may qualify for. Since the , the IRS is likely to use your 2019 tax return, if you file taxes.
If you have a pension or investments that are taxable, those will affect your AGI, and therefore your. The same is true for interest from a bank account. Interest from tax-exempt bonds isn't included in your AGI, however, so it wouldn't affect your stimulus payment eligibility.
For the, some of the eligibility rules changed in the final version of the bill -- read on for more, and use our to see if you qualify based on income limits. Here are and , respectively.
If I'm eligible for a third payment, how much money will I get?
There are several ways thatwith a third stimulus check. The includes a payment of , no matter their age, to be added on to the household's total. That means if you support an -- a college student, for example -- you may be able to get a this round.
The expansion will People's Policy Project.on behalf of an estimated 13.5 million adult dependents, according to the
The new bill also loops in families with, where members have different immigration statuses. Both of these groups were left out of the first and second stimulus payments.
One thing to note:That means single filers who earn less than $75,000 will be eligible for the full $1,400. But those who earn $80,000 or more per year will . There are other ways some households can .
SSI or SSDI beneficiaries: Are you eligible for the third stimulus check?
If you're over age 65 and a recipient of Supplemental Security Income or Social Security Disability Insurance, you were eligible for a first and second stimulus check, and will be eligible for a third. This also includes many VA recipients and Retired Railroad Workers.
the IRS said, but those receiving VA benefits may have a few weeks to go.are now getting their stimulus checks,
What's a gross income, and where can I find mine?
Your gross income doesn't include any Social Security benefits unless:
- You're married but filing separately and lived with your spouse at some point in 2019.
- Half your Social Security benefits plus your other gross income and any tax-exempt interest is more than $25,000 filing single (or $32,000 if married, filing jointly).
If either of those is the case for you, you can check out the Instructions for Forms 1040 and 1040-SR or Pub. 915, Social Security and Equivalent Railroad Retirement Benefits to figure the taxable part of Social Security benefits you must include in gross income.
Can I get a stimulus payment if someone claims me as an adult dependent on their tax return?
Some older people mayon someone else's taxes, called a "qualifying relative." For example, you may live with your children. In terms of stimulus check qualifications, the main tax filer would've had to claim you as a dependent on their tax form 1040.
A qualifying relative can be any age. To be counted as a qualifying relative on someone's tax return, the person must meet four criteria. They...
- Don't count as a .
- Live with the family member all year as a member of the household, or count as a relative who doesn't have to live with the family member all year (such as a parent or grandparent, a stepparent or a sibling).
- Must have a gross income for the year of less than $4,200.
- Must have more than half of their support during the year come from the family member.
If you were a dependent on someone else's taxes and were over the age of 16, you weren't qualified for any stimulus money at all in the first or second round of stimulus checks. The new law, however, allows dependents of all ages to be eligible to add up to.
I'm a nonfiler. Do I have to file taxes this year to receive my stimulus money?
Ais a person who isn't required to . The requirement to depends on your gross income, which is all income you receive in the form of money, goods, property and services that aren't tax-exempt (more below).
People who are considered nonfilers don't need to do anything to receive a, according to the IRS. However, if you're claiming missing stimulus money in a , even nonfilers will have to file a tax return this year. You may be able to use a . You will, however, .
If you're age 65 or older, you should file taxes under the following circumstances:
- Single filer with at least $13,850 in gross income.
- Head of household with at least $20,000 in gross income.
- Married filing jointly (if one spouse is 65 or older, $25,700 in gross income; if both spouses are 65 or older, $27,000 in gross income).
- Married filing separately (any age).
- Qualifying widow(er) age 65 or older with at least $25,700 in gross income.
In the 2019 tax year, the IRS introduced Form 1040-SR, US Tax Return for Seniors. This form is basically the same as Form 1040, but has larger text and some helpful information for older taxpayers.
I'm not a US citizen, but I pay taxes. Can I get a third stimulus check?
Under the resident aliens," green card holders and workers using visas such as H-1B and H-2A., non-US citizens, including those who pay taxes, weren't eligible to receive the $600 payment, unlike with the first round of checks. Under the of March 2020, who live and work in America were eligible to receive stimulus payments. That included people the IRS refers to as "
If your citizenship status has changed since you first got a Social Security number, you may have to update the IRS' records to get your check. US citizens living abroad were also eligible for a first payment.
For the third payment, theincludes checks for -- families with members with different immigration statuses -- who were left out of the first two checks.
I never got the money I was owed from the first or second stimulus payments. Can I claim it on my taxes?
Now that it's, if you , you'll likely need to claim a missing payment using the -- that includes people who , too.
If you use the Recovery Rebate Credit, your stimulus allotment will either be bundled with youror you'll pay less tax. We recommend and registering your bank account for .
I'm over 65 and have dependents. What if I never got a payment for them with the first two payments?
If you're age 65 or older and have a child dependent age 16 or younger who qualified for an, or an , you'll have to claim your stimulus payment on behalf of eligible dependents as a .
For more, check out what we know so far about aand . Here's what we know about the possibility of a .