Did you know that a $2 trillion economic relief bill (Coronavirus Aid, Relief, and Economic Security Act) was signed into law recently? Yes, it is true. President Trump signed this bill to assist the millions of households in America affected by the global pandemic-coronavirus. Some people have been let go from their jobs, and this stimulus payment is intended to help these people, and others affected. With this relief check, many Americans will receive $1,200 or more to help them pay the bills during this pandemic, depending on their qualifications. So, who is eligible to get this relief check, you might ask? In this article, we will discuss the different qualifications you must meet to be eligible for this check.
Who qualifies for the 2020 coronavirus relief check?
To be eligible for the full $1,200 relief check, your adjusted yearly gross income must be under $75,000. For people who earn up to $99,000 yearly, they will receive a reduced check. Married couples, on the other hand, are eligible for a $2,400 relief check as long as their joint adjusted yearly gross income is under $150,000. Married couples who make up to $198,000 yearly will receive reduced checks. Also, for every child under 17, married couples will receive an extra $500.
For people who are single parents with children (i.e., those that file as head of household), they are eligible for the $1,200 relief check if they have an adjusted yearly gross income of up to $112,500. For heads of households with annual earnings of $136,500, they will receive reduced checks. They will also receive an extra $500 for every child under 17.
How to get the relief checks
The process to get the relief check is automatic for anyone who qualifies, so you do not have to sign up to get it. However, there are a few things you need to be able to receive the stimulus check, and it is highlighted below.
- You need a social security number
To be eligible for the relief check, you need to live in the US and have a Social Security Number. This means that non-residents of the US, adult dependents and people without a Social Security Number are not eligible.
- File a tax return
The amount of money you’ll get is based on the adjusted gross income listed on the last tax return you filed. This means that your relief check is dependent on the tax return you filed for in 2018 or 2019.
- Review your direct-deposit information
The relief checks will be disbursed by the IRS according to the direct-deposit information you provided on your last tax return. The IRS will make use of all the information provided, whether it’s the Social Security benefits you collect or others. All you have to do is wait for the check to get to you.
To Wrap It Up
According to the Treasury Secretary, the first relief check payments will be made in the week of April 6. However, a lot of experts believe the dates are not feasible, so we’ll just have to wait and see.
If you are in a tough financial situation, you need help from people that have knowledge and experience. The attorneys at The Debt Relief and Education Foundation are such attorneys. If you are fighting off debt collectors and dreading every trip to the mailbox, contact The Debt Relief and Education Foundation for a free consultation.