Who gets what in the latest round of stimulus checks

The third round of stimulus checks have started being deposited into people’s bank accounts this week, giving many Americans a financial lift.

Here’s a breakdown of the stimulus payments:

• $1,400 for individuals earning up to $75,000
• Phases out based on income; completely phased out if you earn more than $80,000
• $2,800 for married couples who earn up to $150,000
• Phases out based on income; completely phased out if you earn more than $160,000
• All dependents qualify for up to an extra $1,400; college students and elderly parents living with you qualify

Here’s a breakdown of the child tax credit:

• $3,000 a year per child ages 6 to 17
• $3,600 a year per child under 6
• Monthly payments could start as soon as July; the rest could be claimed on 2021 taxes
• It phases out if you earn more than $75,000 a year or couples who earn $150,000
• Families that are ineligible because of incomes can still claim $2,000 per child credit (income limits: $200,000 for an individual and $400,000 for marries couples)

Cox Media Group