Author Topic: Stimulus 2: Phased out child payments this round?  (Read 502 times)

Easye418

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Stimulus 2: Phased out child payments this round?
« on: January 01, 2021, 09:56:18 AM »
I have looked everywhere on IRS website for definitions on Stimulus Round 2 and I can't find a clear answer for this.

For Stim 1, I received $325+$1000 flat for having 2 dependents under 17.

For Stim 2, I received the same $325 but $0 for 2 dependents. I would have expected $325+$1200 for 2 dependents.

Both CNET and Kiplingers calculator came out to the correct amount that I received.

Did they introduce a phase out for children in this stimulus package based on income?

Duke03

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Re: Stimulus 2: Phased out child payments this round?
« Reply #1 on: January 01, 2021, 10:16:21 AM »
Did your kids age out of the program between the two stimulus payments?

terran

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Re: Stimulus 2: Phased out child payments this round?
« Reply #2 on: January 01, 2021, 10:25:43 AM »
Have you seen the calculation linked from here: https://forum.mrmoneymustache.com/welcome-to-the-forum/how-much-of-a-stimulus-check-are-you-expecting-and-how-are-you-going-to-spend-i/

It has a graph that might help you understand what's going on.

Easye418

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Re: Stimulus 2: Phased out child payments this round?
« Reply #3 on: January 01, 2021, 11:17:38 AM »
Have you seen the calculation linked from here: https://forum.mrmoneymustache.com/welcome-to-the-forum/how-much-of-a-stimulus-check-are-you-expecting-and-how-are-you-going-to-spend-i/

It has a graph that might help you understand what's going on.
Did your kids age out of the program between the two stimulus payments?

They did not age out of the program.

The terms of the program changed between 1 and 2 so the child payments are adding in before income reduction vs a flat payment.  Oh well, at least I know!

Thanks everyone!