On Saturday morning, the U.S. House of Representatives—or, more accurately, House Democrats—passed the $1.9 trillion American Rescue Plan. (Zero Republicans crossed party lines to for the bill; two Democrats voted against it.) The plan, which is expected to pass the U.S. Senate this week, would provide a wide range of provisions, including funding for COVID-19 vaccine production and distribution, an extension of federal unemployment benefits…and a third round of stimulus payments for some American households.
If passed and signed into law, the American Rescue Plan will provide a maximum of $1,400 for individuals and $2,800 for couples—plus an additional $1,400 for each dependent. Of course, this all depends on your adjusted gross income (AGI). In order to get the full amount, an individual’s AGI can’t be more than $75,000—or $150,000 for couples.
But even if that’s the case, that doesn’t mean you’ll walk away empty-handed: Individuals with an AGI between $75,001 and $100,000 (and couples with an AGI between $150,001 and $200,000) will receive stimulus checks adjusted to reflect their income.
So how do you know if one of those stimulus checks is coming your way—and how much it will be worth? Here are two calculators that can help you figure it out.
American Rescue Plan Calculator
This online tool, created by Jasmine Mah, a web developer for Omni Calculator, allows users to punch in a few numbers and other details to get an estimate of the amount they can expect from their next stimulus check. (Apart from the American Rescue Plan Calculator, Mah has produced previous similar calculators, Fast Company reports.)
Another option comes from the personal finance website Grow, and it factors in your filing status, AGI, and the number of dependents you have. And if you need some help figuring out your AGI, here’s how to calculate it.
When you file your 2020 taxes matters
One thing to note: when you file your 2020 taxes can determine the amount of you’ll receive in your third stimulus check—or if you’ll receive one at all—as Lifehacker’s Mike Winter pointed out recently. The bottom line is, you should file your taxes sooner if your income fell below the $75,000 threshold in 2020, as your check will be based on that lower amount—but check out the full article for more details.