1. What Was the Second Stimulus Payment?

The second stimulus payment was part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, providing economic impact payments of up to $600 per eligible individual and $600 per qualifying child.

2. How the Payment Was Calculated

The payment calculation followed this formula:

Where:

• Base payment — $600 per eligible individual
• Dependents — $600 per qualifying child
• Phaseout — Reduced by 5% of AGI above threshold

Phaseout thresholds:

• Single filers: $75,000 - $87,000
• Married filing jointly: $150,000 - $174,000
• Head of household: $112,500 - $124,500

3. Eligibility Requirements

Details: U.S. citizens or resident aliens with valid Social Security numbers and below the income thresholds were eligible. Dependents of any age qualified for the additional $600 payment.

4. Using the Calculator

Tips: Enter your filing status, adjusted gross income from your most recent tax return, and number of qualifying dependents to estimate your payment amount.

5. Frequently Asked Questions (FAQ)

Q1: Who qualified for the full $600 payment?
A: Individuals with AGI below $75,000 (single), $112,500 (head of household), or $150,000 (married filing jointly).

Q2: Were college students eligible?
A: Yes, if claimed as dependents, they qualified for the $600 payment to the taxpayer who claimed them.

Q3: How were payments delivered?
A: Most payments were sent via direct deposit, paper check, or debit card.

Q4: What if I didn't receive the full amount?
A: You could claim the Recovery Rebate Credit on your 2020 tax return.

Q5: Did non-filers need to take any action?
A: Yes, they needed to use the IRS non-filer tool to claim their payment.