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Coronavirus Stimulus Checks: Here's Who's Eligible For Relief Payment

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Coronavirus Stimulus Checks: Here's Who's Eligible For Relief Payment

If all the alarming coronavirus headlines have your anxiety at an all-time high, here’s some good news: A highly anticipated stimulus package meant to provide financial relief to consumers and businesses struggling in the wake of the COVID-19 pandemic is ready to be set in motion.

Though the details of the plan have yet to be finalized and voted on, Congress has essentially agreed on the major provisions. The CARES Act, which lawmakers spent the past several days hashing out, includes a historic $2 trillion in relief funds.

But the big question on most people’s minds is whether they qualify for a cut of the money. Here’s a look at the plan, who qualifies and when you can expect to get paid.
Do I qualify for a coronavirus relief check?

The amount of money you may receive as part of this stimulus package is based on your adjusted gross income. If you already filed your federal taxes for 2019 (the deadline was extended to July 15), eligibility will be based on your AGI from that tax return. If you haven’t filed yet, the IRS will rely on information from your 2018 return or the Social Security Administration to determine eligibility.

Here’s the bad news: Not everyone will qualify for a relief check.

The maximum amount you can receive is $1,200, or if married filing jointly, $2,400 per couple. That amount phases out for single filers with an AGI between $75,000 and $99,000, joint filers with an AGI between $150,000 and $198,000 and heads of household with an AGI between $112,500 and $146,500.

More


from If all the alarming coronavirus headlines have your anxiety at an all-time high, here’s some good news: A highly anticipated stimulus package meant to provide financial relief to consumers and businesses struggling in the wake of the COVID-19 pandemic is ready to be set in motion.

Though the details of the plan have yet to be finalized and voted on, Congress has essentially agreed on the major provisions. The CARES Act, which lawmakers spent the past several days hashing out, includes a historic $2 trillion in relief funds.

But the big question on most people’s minds is whether they qualify for a cut of the money. Here’s a look at the plan, who qualifies and when you can expect to get paid.
Do I qualify for a coronavirus relief check?

The amount of money you may receive as part of this stimulus package is based on your adjusted gross income. If you already filed your federal taxes for 2019 (the deadline was extended to July 15), eligibility will be based on your AGI from that tax return. If you haven’t filed yet, the IRS will rely on information from your 2018 return or the Social Security Administration to determine eligibility.

Here’s the bad news: Not everyone will qualify for a relief check.

The maximum amount you can receive is $1,200, or if married filing jointly, $2,400 per couple. That amount phases out for single filers with an AGI between $75,000 and $99,000, joint filers with an AGI between $150,000 and $198,000 and heads of household with an AGI between $112,500 and $146,500.

More
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