Who would receive a second stimulus payment from the government?

Virtually any U.S. resident with a valid Social Security number is eligible for an economic impact payment under the CARES Act, including veterans, workers eligible for unemployment, and most people receiving Social Security retirement and disability benefits.

The HEALS Act will likely result in a check for anyone who received one in the first round of economic impact payments, because the same income threshold as the CARES Act is expected to be used.

One notable change is that the new HEALS Act proposes a $500-per-dependent payment to taxpayers with dependents of any age, unlike the CARES Act. The first round of stimulus payments did not include dependents ages 17 and older.

How much money would I get this time?

The HEALS Act proposes another round of one-time $1,200-per-individual payments, plus $500 for each qualifying dependent, regardless of age. Single adults with an adjusted gross income of $75,000 or less will get the full $1,200. Married couples with no children earning $150,000 or less will receive a total of $2,400.

Many adults would be expected to get the full $1,200, although this amount would vary by income level. Above the income thresholds, the payment amount will gradually decrease until it stops altogether.

During the first wave of payments, single taxpayers with incomes above $99,000 and married couples with incomes above $198,000 received no payment at all.

Click here to read more about how eligibility was determined as a result of the CARES Act.