What is adjusted gross income? : vimarsana.com

What is adjusted gross income?


In March 2020, the maximum payment for individuals was $1,200 and $500 for each child under age 17. The maximum amount of the second check was $600 per adult taxpayer and $600 for each child under age 17. The maximum amount of the third stimulus check is currently set at $1,400 per adult taxpayer, plus $1,400 per dependent.
The American Rescue Plan is currently with the House of Representatives, which could make changes to the bill, and will need House signoff before heading to President Biden for a signature.
Single taxpayers whose AGI in 2019 or 2020 was $75,000 or less are expected to receive the full stimulus payment. Those earning between $75,001 and $80,000 would receive a reduced amount. Married joint filers earning up to $150,000 would be eligible for the full payment, and those earning between $150,001 and $160,000 would qualify for a reduced payment.

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