What you need to do to get your stimulus check
The IRS and the Treasury Department say Americans will start receiving their economic impact checks in the next three weeks.
The payments are part of the $2.2 trillion rescue package signed into law last week by President Donald Trump aimed at combating the economic ravages of the coronavirus outbreak.
The IRS and Treasury have provided more details on how to ensure you get paid. Here are the basics:
Who is eligible for the payments?
Anyone earning up to $75,000 in adjusted gross income and who has a Social Security number will receive a $1,200 payment. That means married couples filing joint returns will receive the full payment — $2,400 — if their adjusted gross income, what you report on your taxes, is under $150,000.
The payment steadily declines for those who make more.
Those earning more than $99,000, or $198,000 for joint filers, are not eligible. The thresholds are slightly different for those who file as a head of household.
Parents will also receive $500 for each qualifying child.
What do I have to do to get the check? For most people, nothing.
The money will be directly deposited in your bank account if the government has that information from your tax return.
If you haven’t filed your 2019 taxes, the government will use information from your 2018 taxes to calculate your payment and determine where to send it.
It can use your Social Security benefit statement as well.
I don’t usually have to file taxes. Do I still get a payment?
Yes.
People who are not required to file a tax return — such as low-income tax payers, some senior citizens, Social Security recipients, some veterans and people with disabilities — will need to file a simplified tax return to receive the economic impact payment.
It provides the government basic details, including a person’s filing status, number of dependents and direct-deposit bank information.
I haven’t filed my 2018 or 2019 taxes. Will I still get a payment?
Yes, but the IRS urges anyone required to file a tax return and has not yet done so for those years to file as soon as possible in order to receive an economic impact payment. Taxpayers should include directdeposit banking information on the return if they want it deposited in their account.
I didn’t use direct deposit taxes, what can I do?
The government will default to sending you the check by mail.
However, IRS and Treasury say that they will develop an online portal for individuals to provide their banking information so that they can receive the payments immediately instead of in the mail.
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I need more time to file my tax returns. How long do I have to get the payment?
The IRS says people concerned about visiting a tax professional or local community organization in person to get help with a tax return should not worry. The economic impact payments will be available throughout the rest of 2020.