Stimulus check calculator estimates how much your payment will be worth
(Gray News) - Millions of people will soon receive a new stimulus payment from the federal government, and there is an easy way for recipients to find out how much money they will get.
Below is a calculator where those eligible can calculate how much they will receive based on a few questions.
Payments are determined based on filing status, adjusted gross income and dependents claimed. A single person with no dependents that qualifies based on income would receive $1,400, while a family of four would get $5,600.
The IRS said the first batch of payments were sent out by direct deposit as early as last Friday, but many should receive their official payments on Wednesday.
The checks are going to Americans as a result of the $1.9 trillion American Rescue Plan Act of 2021, which was signed into law on March 11.
People who qualify for a stimulus payment can check to see when they will receive their funds using the IRS Get My Payment tool.
EDITOR’S NOTE: A previous version of the story said a married couple with four children would receive $5,600. This has been corrected to state a family of four would receive that total.
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