The Third Stimulus Check Calculator lets you know how much you are eligible to receive under the current federal bailout package.

President Biden signed the bill into law on March 11, the day after it was approved by the Senate and quickly passed the House.

The $1.9 billion American Rescue Plan Act includes a third stimulus check amount of $1,400 for millions of Americans, including dependents.

There are conditions that must be met in order to receive the full amount.

According to the most recent tax return, single filers with annual income up to $75,000 or married couples filing jointly with income up to $150,000 are eligible to receive the full $1,400.

However, if your annual income is between $75,001 and $80,000 ($150,001 and $160,000 for married couples, respectively) or you have dependents, you may not know how much you are actually eligible to receive.

Even if you received the first $1,200 of stimulus and the second $600 of stimulus, the proposed eligibility requirements have changed significantly.

To find out how much you can expect to receive, enter your basic information into the American Rescue Plan calculator.

You will need to verify that you filed a tax return for 2019 or 2020 and select your filing status (single, married, head of household). Also enter the number of dependents you have claimed and your adjusted gross income from your most recent return. The tool will automatically calculate your estimated payment.

The IRS expects to use the most recent information submitted, so if you have already filed your 2020 tax return, that income will be used to calculate your stimulus check.

Most Americans whose direct deposit information is currently on file with the IRS are already receiving payments in the form of direct deposit into their bank accounts; the IRS will announce the "tranche" of direct deposits and mail new stimulus checks every Wednesday.

Those who have not registered their direct deposit information with the IRS should have received paper checks and prepaid debit cards. The first checks and debit cards were mailed on March 24, with more checks and debit cards mailed on subsequent Wednesdays.

Meanwhile, there have been delays for retirees, annuitants, disabled persons, and other non-filers, as it took the IRS some time to receive the necessary information from the Social Security Administration, and those whose direct deposit information is currently on file have begun receiving payments. However, by today (April 9), most people should have been paid.

If eligible dependents are children under the age of 18, they will not be included in the stimulus checks, but will eventually be paid more.

For tax year 2021, the tax credit for children ages 6-17 will increase from $2,000 to $3,000, and for children up to age 5 it will increase by 80% to $3,600.

Most parents would consider this money a reduction in taxes on their 2021 income. Salaries will increase slightly through the end of the year.

However, parents whose income taxes fall below the maximum child tax credit (e.g., a single parent with two children earning $25,000 a year) will receive a monthly check of up to $300 per child beginning later this year.