Second stimulus check in 2020? Yes, you might still receive $1,200 this year - CNET

With another stimulus package still on the table, how much money could end up in your pocket?

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Will there be a second stimulus check at all, and if so, how much money should you expect to get? After two weeks of stalled negotiations between Washington lawmakers have expired, the answer is hazy. Republican and Democratic leaders have both indicated that another bill is still on the table -- and they all agree that a second direct payment is needed to help keep Americans afloat during the ongoing coronavirus recession. 

That's the good news. Both the House of Representatives and the Senate are now on recess until September without an agreement on the amount of financial assistance that should be in the final stimulus package. And with the Democratic National Convention and Republican National Convention both on the calendar this month, with the DNC starting on Monday, it's unlikely talks will resume in August.

The amount of money you and your family could be eligible for if another COVID-19 relief bill eventually passes is still up in the air, but here's how to calculate the most you might get as your potential share of the second stimulus payment. This story was recently updated.

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How much money could your entire household receive?

The Senate's HEALS Act from July proposed an upper limit of $1,200 per qualified person, but that doesn't mean you'd be able to get it all. Your tax filing status -- specifically your adjusted gross income, or AGI -- is one of the factors that helps determine your share. Let's say you're personally eligible for the full $1,200 (read up more on income limit qualifications here), but what about the rest of your family?

The first stimulus check, part of the bipartisan CARES Act, left out child dependents who were 17 or older and college students under 24 years old. The Republican plan would include $500 for dependents regardless of age, including children and adults you claim in your tax filings.

The calculations can be tricky, since they take into account your income, dependents and whether you filed as single, married or head of household. We can't say for sure that the figures above will match up to the IRS' internal rubric, which were based on this calculator The Washington Post put together. 

But they could shed some light on what you might get if the HEALS Act were to pass as is.

Stimulus check calculations

	Scenario 1	Scenario 2	Scenario 3	Scenario 4
Filed 2019 taxes?	Yes	Yes	No	No
Filing status	Single	Head of household	Married	Married
2018 or 2019 tax AGI	$80,000	$140,000	$130,000	$130,000
Dependents under 17 (CARES Act)	0	1	2	2
Dependents over 17 (HEALS Act)	0	0	0	2
Calculated check amount	$950	$1,325	$3,400	$4,400

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What's the absolute limit your family could count on?

Depending on how negotiations shake out, the total amount your family gets may change. Here's a look at the caps put in place to give you an idea of what government leaders are thinking.

CARES Act: With the CARES Act from March, there was no limit to the number of children who could count as dependents, as long as they were under 17 and claimed by the taxpayer on their tax return, according to the Tax Foundation. Each dependent would garner the taxpayer $500. Theoretically, a family in which two adults and six children under 17 were eligible for the full amount could receive $5,400.

HEALS Act: Similar to the CARES Act, the HEALS Act put forth by Republicans doesn't mention a cap on the amount a family may receive. The difference is that it doesn't limit dependents to those under 17 to qualify for the $500 payment.

Heroes Act: The Heroes Act, put together by the Democratic-led House and which has never been taken up or vetoed by the Senate, would place a cap of $6,000 for households of five or more. Essentially, it proposes $1,200 for each adult and dependent, with a maximum of three dependents per family. 

How much stimulus money you could get in August is still undecided.

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If a bill passes, how will your IRS payment arrive?

While there's no official plan yet, it's likely that receiving this second stimulus check will work much like it did the first time around. If you filed taxes in 2018 or 2019 and included direct deposit information, it's likely you can receive your check as a direct deposit. If not, you could get it in the mail as a paper check. Under the CARES Act, some people were also sent money in the form of a prepaid "economic impact payment" card, or EIP. 

Brush up on all the finer points of the stimulus check here.

When will Congress finalize stimulus check plans?

That's the trillion-dollar (at least) question. The Senate is adjourned until after Labor Day, so sessions may not resume until Sept. 8 unless an agreement is made before then. Still, there could be an opportunity to craft a bill that includes stimulus checks, which has bipartisan support. Here's more on the timeline, including when the IRS could send the first checks.

If you're still waiting for your first stimulus check, here are 10 possible reasons for a delay, what you can do if you think your payment is lost or has fallen through the cracks and if you could receive two refund checks from the IRS.

Shelby Brown contributed to this report.

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