President Donald J. Trump signed bipartisan legislation to provide relief to American families and workers during the coronavirus outbreak on March 27th, 2020. This legislative package brings security to American families by providing them with economic assistance during this time of crisis.
Most of you are concerning about who will be qualified about this Stimulus Checks. Here are the answers for you.
Q: Who is eligible for the economic impact payment?
A: Eligible taxpayers are who filed tax returns for either 2019 or 2018.
Q: How much can I get ?
A: Individual tax filers with adjusted gross income up to $75,000 will get $1200 per person.
Married couples filing joint returns for and up to $150,000 will receive $2400.
$500 for each qualifying child.
Q: What if my income is above $75,000 or a married couples' income is above $150,000?
A: If your income is between $75,000 - $99,000 or a couples' income is between $150,000 - $198,000, the payment amount is reduced by $5 for each $100.
Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.
Q: I don't have any income. I only get benefit from Social Security. will I still get the check?
A: Yes, You do. Social Security recipients and railroad retirees who are otherwise not required to file a tax return are also eligible and will not be required to file a return.
Q: My income is low and doesn't need to file a tax return, can I still get the check?
A: Yes, You do. However, some taxpayers who typically do not file returns will need to submit a simple tax return to receive the economic impact payment.
Q: Do I need to submit anything to get the payment?
A:You do not need to take any action. IRS will direct deposit the check to your account.
Q: Do I need to pay tax for the check next year?
A: No, It's tax free.
Any information please check IRS website.
https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
More information about Coronavirus:
Top 7 Best Grocery Delivery Service During COVID-19 Quarantine
#coronavirus #covid19 #stimuluscheck #grocerydeliver
0 comments