What Individuals Can Expect From the Feds
What individuals can expect from the COVID 19 Stimulus regardless of Unemployment Benefits and Paid Leave
Most adults would get $1,200, although some would get less. For every child age 16 or under, the payment would be an additional $500.
Will I get the full amount?
It depends on your income. And you must have filed a 2018 or 2019 tax return with a social security number. Single adults who are United States residents and have an adjusted gross income of $75,000 or less would get the full amount. Married couples with no children earning $150,000 or less would receive a total of $2,400. And someone filing as head of household would get the full payment if they earn $112,500 or less.
Above those income figures, the payment decreases until it stops altogether for single people earning $99,000 or married people earning $198,000.
The Treasury Department will use the most recent data they have for you from your filed tax return; either 2018 or 2019.
You can find your adjusted gross income on line 8b of the 2019 1040 federal tax return. Line 7 on your 2018 Form 1040 page 1.
[Tax Move?: If individuals have less income for 2019 over 2018, you may want to file electronically right away. This would apply if you are within the income ranges shown below for your filing method.]
Do I have to apply to receive a payment?
No. If the Internal Revenue Service already has your bank account information, it would transfer the money to you via direct deposit based on the recent income-tax figures it already has, either 2018 or 2019. If not, you would receive a check in the mail, likely based on the address on your most recently filed tax return.
When would they arrive?
The Treasury has announced that most people should get their payments within three weeks.
Would eligible unemployed people get these stimulus payments?