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On Saturday, the Senate approved a $1.
Those changes mean that about 17 million fewer people will receive a third round of stimulus payments than would have under the House-passed version of the bill, according to the Institute on Taxation and Economic Policy, but some 280 million people will still be eligible.
Unlike previous rounds of payments, eligibility for the new $1,400 checks may be determined based on either 2019 or 2020 tax returns, depending on whether you’ve filed yet for 2020 — and whether the IRS has processed your return.
Adults who earned $75,000 or less in their most recent tax year will receive the full $1,400, as will married couples who earned $150,000 or less, and heads of household who earned $112,500 or less.
Adults who earned more than $75,000, but less than $80,000; married couples who earned more than $150,000, but less than $160,000; and heads of household who earned more than $112,500, but less than $120,000, will be eligible for a reduced payment.
Adults who earned more than $80,000, married couples who earned more than $160,000, and heads of household who earned more than $120,000 will not be eligible for checks.
That means checks will likely start showing up in the second half of March, depending on a few different factors.
As CNET notes, direct deposit payments began registering in accounts about two weeks after the last stimulus package was passed.
So, if the relief bill is signed on the expected schedule, the first payments could start showing up in bank accounts the week of March 22.
Physical checks are expected to take about a week longer than direct deposits, and should begin to go out starting March 29 or so.
As Vox’s Fabiola Cineas and Ella Nilsen explained after Congress passed its previous round of direct payments, most people don’t need to do anything to get a stimulus check.
If you filed taxes in 2019 or 2020, meet the eligibility requirements, and included your direct deposit information, the payment should show up in your account in the coming weeks.