How much will you get and when? The Biggest economic relief package in modern U.S. history is Explained.
Congress passed a historic $2 trillion stimulus bill to help address the growing economic crisis caused by the coronavirus pandemic. Americans can expect direct deposit cash payments directly to their bank accounts within the next three weeks. Most individuals can expect $1,200 per adult and $500 per child.
Make less than $75,000 per year?
If you make $75,000 or less as an individual or less than $150,000 a year as a couple you will get money. Individuals are eligible for up to $1,200 and couples would receive up to $2,400 — plus $500 per child. A family of four (2 adults 2 kids) can expect $3,400. There is a simple calculator here that shows what you will get (it is not official though, waiting on the US Treasury to release one on their website).
Make MORE than $75,000 per year?
The amount would then be reduced by $5 for every additional $100 of adjusted gross income, and those making more than $99,000 would not receive anything. The income thresholds are doubled for married couples.
How do they know my income?
Your Income is based on 2019 or 2018 tax returns (whichever you did last).
How do they know where to send my money?
The IRS will send you a direct deposit to your bank account that you have on file with the IRS for your tax payments or refunds. If you don’t have a bank account on file they will mail you a check!
When can I expect the money?
The White House has said they hope to begin distributing cash quickly. Most Americans will be receiving their money by April 15th!
More Freebies & Deals to get you through the Coronavirus Shutdowns:
Freebies for Healthcare & First Responders Coronavirus Heroes
List of Senior & At-Risk Grocery Store Shopping Hours
Make Money From Home During the Pandemic
Freebies & Deals to get you through Your Time at Home
Restaurant TakeOut & Delivery Deals Through April
for more information on what the U.S. is doing to help its citizens during the Coronavirus, you can read official information here.