Everything we know about how large your second payment may be

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What are the chances you could get a second stimulus check before the Nov. 3 election, and if you did, how much money could you expect? There’s still a chance it could happen, now that Treasury Secretary Steven Mnuchin and House Speaker Nancy Pelosi have agreed to resume negotiations on another economic relief package 

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We help you estimate the maximum amount that could end up in your bank account if another stimulus payment arrives. Angela Lang/CNET

Democrats in the House of Representatives are also preparing a new, $2.4 trillion relief proposal that could receive a vote in the House on Oct. 2. If it passes, the Senate would have the chance to vote — or not — and negotiations could potentially kick into high gear.

The first stimulus check maxed out at $1,200 per adult, but a second check could bring more or less, especially if rules about your dependents change. These new qualifications, among others, are critical in determining how much money you and your family could receive if a new bill passes. If your circumstances have also changed since March — for example, your income changed, you filed your 2019 taxes, or the number of dependents you now have is different — that could also affect the size of your check.

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Keep reading to learn the potential scenarios that could happen, and try CNET’s stimulus calculator for a specific estimate. And here are additional key facts to know about stimulus checks. This story updates regularly.

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You could get less than $1,200 — or more

If another stimulus bill passes and you get an extra stimulus check, it’s likely that $1,200 will remain the maximum for individuals — that was in the last stimulus bill and two proposals. For most people, calculating the total amount requires them to know their adjusted gross income, or AGI.

That’s just the start. Family circumstances, like if you file taxes jointly with your spouse, and a range of other eligibility requirements also play a role. A new change to let dependents of any age qualify could bring in more money, too. Here are some potential scenarios based on our stimulus check calculator, which you can also use to get a more specific estimate for your particular situation. 

How you can prepare for the IRS to send your check

The IRS will send your check automatically, if you’re eligible, but there may be some things you can do to help make sure you receive your money quickly, if another direct payment occurs.

Register for direct deposit to your bank account: Direct deposit will be the fastest way to get your money. The IRS already has a system in place to electronically transfer the funds into your checking account. That is, if you already provided those details if you registered for direct deposit with your first check or as part of filing your IRS tax return. 

Look for the registration tool to reopen if another check passes. If you don’t have a bank account, read on for other ways to prepare.

If you moved, you need to let the post office know: A physical check is the most likely way, after direct deposit, that you’ll receive a stimulus check. If you’ve moved recently, you’ll need to file a change of address with the US Postal Service, since the IRS will mail your check to your last known address.

Keep an eye on the mail: Instead of a paper check, about 4 million people received a prepaid economic impact payment card in the mail. This is money you can spend like cash on a debit card. The cards came in plain, unmarked envelopes that were prone to being tossed. When and if the time comes, you can sign up for a free USPS service to track your mail all the way to your mailbox, so there are no surprises — or disappointments.

Beware of scams: Stimulus check fraud is real, and it’s still ongoing as millions of people continue to wait for their first checks. Fraudsters prey on people they consider vulnerable. Knowing common attacks can help you recognize and avoid them. There’s no second stimulus check right now, but that won’t stop a scammer from trying to take advantage.

If you’re still waiting for your first stimulus check, follow these steps.

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The amount of stimulus money you could get in a second round of checks is still undecided. James Martin/CNET

This is how Americans used the first round of stimulus checks

A recent survey looked at how Americans are using their stimulus checks. According to research from the National Bureau of Economic Research:

In general, the report found that lower-income households were significantly more likely to spend their stimulus checks, higher-income individuals were more likely to save it and those with mortgages or who were renters were much more likely to pay off debt.

According to the US Census Bureau, here’s the breakout for households that spent their stimulus checks on items other than savings or paying down debt.

  • 80% of those who spent their checks reported using it on food.
  • 77.9% spent it on rent, mortgage and utilities.
  • 58.2% bought household supplies and personal care products.
  • 20.5% purchased clothing.
  • 8.1% spent it on household goods — such as TVs, electronics, furniture and appliances — or recreational goods, including fitness equipment, toys and games.

Looking for more stimulus check information? Read up on all the finer points of the stimulus payment here. If you’re still waiting for your first stimulus check, here are 10 possible reasons for a delaywhat you can do if you think your payment was lost or has fallen through the cracks and if you could receive two refund checks from the IRS.

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