Here's everything you need to know about your $1,200 stimulus check:
If one of the following describes you, then you will get a stimulus check:
You are a U.S. citizen or permanent resident who filed federal income taxes for 2018 or 2019 if you meet theYou receive Railroad Retirement benefits.If you fit the criteria above, then you don’t need to do anything to get a stimulus check. You will get a stimulus check automatically.The stimulus check - including whether you get one and how much your stimulus check is for - is based partially on your adjusted gross income on your 2018 or 2019 federal tax return. There’s good news and bad news.
Here’s what happens: the stimulus check amount phases out by $5 for every $100 above certain income levels based on your tax filing status. This means your stimulus check will getby $5 for every $100 more in adjusted gross income that you have above $75,000 , $112,500 and $150,000 up to the maximum income threshold.because if you have higher adjusted gross income, the amount of your check can be lower due to the phase out.No, you don’t have to pay income taxes on your stimulus check.
The first checks were sent as early as April 9 via direct deposit to taxpayers who provided their direct deposit information on their 2018 or 2019 federal tax return.. Most direct deposits should arrive by April 14.If you did not provide direct deposit information, the IRS will send you a paper stimulus check. The IRS will start sending paper stimulus checks beginning April 24.
On April 17, the IRS will release a new online tool called Get My Payment, which will also enable you to input your direct deposit information to get your stimulus check faster.It depends. If someone claimed you as a dependent on their federal tax return, then unfortunately,. If you’re ages 17-24, and someone claimed you as a dependent on their federal tax return, that person also will not get the dependent payment either.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
1st round of stimulus checks arrive via direct depositAmericans are receiving via direct deposit their first stimulus checks from the Treasury Department sent to help alleviate the economic downturn caused by the COVID-19 pandemic.
Read more »
Vitamin D Does More Than Keep Stress Fractures at Bay, But Many of Us Are Still DeficientFrom how much you need to how to get it, here’s everything you need to know about the sunshine vitamin.
Read more »
1st round of stimulus checks arrive via direct depositAmericans are receiving via direct deposit their first stimulus checks from the Treasury Department sent to help alleviate the economic downturn caused by the COVID-19 pandemic. "We can confirm that payments are beginning to arrive in some Americans’ accounts," a senior Treasury official told
Read more »
Millions of taxpaying immigrants won't get stimulus checksCongress' coronavirus relief package excludes millions of immigrants who do not have legal status in the U.S. but who work here and pay taxes.
Read more »
Coronavirus stimulus check scams, fraud, identity theft warning: Safety tips from IRS as millions await paymentSome Americans eligible for the scheme have begun to see the one-off payments arrive in their accounts, while millions more are waiting for the delivery of paper checks.
Read more »
Everything we know (so far) about the new 'Dune' movieHere's everything we know about the star-filled project so far.
Read more »