How You’ll Be Getting Your COVID-19 Check
Those checks from the government to help us through the novel coronavirus outbreak you've been hearing so much about? Here's how it works.
In a Q&A from Yahoo News, the most common questions about the $2 trillion emergency economic package that will get you some cash in your pockets are answered.
When it comes to how much you will be getting, it depends on your taxes and income in 2019.
"If you made less than $75,000 in 2019, you will be eligible for the full payment of $1,200," said Yahoo News. "Couples who filed jointly and made less than $150,000 will get $2,400."
There are more ways Yahoo News breaks it down but the maximum a family of four can get is $3,400.
The next important question, "when is it coming" is answered as Treasury Secretary Steven Mnuchin said "within the next three weeks."
It is a one-time payment that will be direct-deposited to those who had it set up that way for their tax returns. Otherwise, the IRS will be in touch with how much you are getting and will send it to your last KNOWN address, if you have moved notify them ASAP.
Different groups such as those on Social Security, disabled veterans, college students or those who are homeless or have been recently released from prison have varying steps to take:
- Social Security - They will go off of your Form SSA-1099.
- Disabled Veterans - The IRS is working out the kinks to make sure they don't "fall through the cracks."
- College Students - Uneligble if parents still claim as a dependent.
- Homeless / Recently Released - As long as you have a social security number, you qualify to apply for relief.
For elaboration on all of this information and more, click here!