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Here's how the new $600 stimulus checks differ from CARES Act payments

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Three ways the new stimulus checks are different from the CARES Act...

A round of $600 stimulus checks appears to be on the way.

Legislators settled on giving Americans half of the $1,200 that was issued under the CARES Act earlier this year.

But the size of the check is not the only difference from the first round of payments, according to Garrett Watson, a senior policy analyst at the Tax Foundation.

One change that may work in your favor is how much money you receive for dependents.

Under the CARES Act, individuals were paid $1,200 and an additional $500 for any dependents under the age of 17. Under the new bill, dependents will receive the same $600 as individuals, Watson said.

There are a few other key differences in how the payments are structured. Check out this video for a full breakdown of how the payments will work.

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