Created: March 25, 2020 05:51 PM
(WHEC) — The federal stimulus plan is set to put money in the pockets of many Americans.
Under the agreement:
A person who files an individual tax return making less than $75,000 will qualify for a $1,200 check. Those making between $75,000 and $99,000 will get a check too but it will be scaled down. Anyone making more than $100,000 will not qualify.
A couple, filing jointly and making less than $150,000 will qualify for a $2,400 check. Those making between $150,000 and $200,000 will get a check too but it will be scaled down. Any couple making more than $200,000 will not qualify.
Those people with children will get $500 per dependent whether individual or a couple.
Whether you qualify will be based on your 2019 tax return unless you haven’t already filed in which case, the government will defer to your 2018 return.
If you don’t typically pay income tax or file a tax return, you will still be eligible for a check but Senator Chuck Schumer’s office tells News10NBC you will need to file with the IRS.
In the coming weeks, the IRS will provide simple guidance on how to do it online. Until then, sit tight.
The checks will not impact any other government services you are being provided.
The money will be delivered either by direct deposit or paper check, depending on how you typically get your tax refund.
Copyright 2020 - WHEC-TV, LLC A Hubbard Broadcasting Company