Many Americans will soon get government checks to help them financially weather job loss, reduced work hours, and other money challenges as the country tries to stem the spread of the coronavirus outbreak.
The $2 trillion stimulus package passed the Senate and House of Representatives already and just needs President Donald Trump to sign it. This is the largest emergency aid package in U.S. history and $250 billion of it goes directly to Americans’ wallets.
Here’s what you need to know.
Who gets a stimulus check?
“Our updated estimate is that 93.6 percent of [tax] filers will have a rebate,” said Garrett Watson, senior policy analyst at The Tax Foundation. “And this works out to approximately 140 million households.”
Your eligibility is based on your most recent tax return and your adjusted gross income. If you already filed your 2019 taxes ,your eligibility will be based on that. If not, the Internal Revenue Service will use your 2018 taxes to determine if you qualify.
The benefit is available not only to those who have filed taxes, but also to those who receive Social Security benefits as long as they’ve received their SSA-1099 form.
Read more: Tax deadline postponed: Why you should still file as soon as you can
Single adults with income up to $75,000 will get a $1,200 payment. Married couples with income up to $150,000 will get $2,400. Single parents who file as head of household with income up to $112,500 will get the full $1,200 check.
Additionally, Americans with children will get an additional $500 per child under 17.
Reduced checks will be available for single adults who earn between $75,001 and $99,000 and married couples who earn between $150,001 and $198,000. The check will be reduced by $5 for every $100 over $75,000 for single adults and $150,000 for married couples.
Who doesn't get a check?
Single adults who make more the $99,000 and married couples who earn more than $198,000 won’t receive stimulus checks.
Those without a Social Security number and nonresident aliens — those who aren’t a U.S. citizen or U.S. national and don’t have a green card or have not passed the substantial presence test — aren’t eligible.
You’re also ineligible if your parents claim you as a dependent on their taxes.
https://www.aol.com/article/finance/...more/23963584/
I'm not sure if the substantial presence test applies to us. Maybe someone can elaborate.