Getty
Getty
So, will you get a stimulus check?
Here’s what you need to know.
Stimulus Checks
1. How do you get a stimulus check?
You filed a tax return this year or last year.
2. How much money can I get?
It depends:
Individuals: $1,200
Married Couples: $2,400
Dependent Children: $500 (must be less than 17-years-old)
3. Does it matter how much income you make?
Yes.
4. What are the income thresholds?
There is no minimum adjusted gross income threshold. However, the stimulus check amount phases out by $5 for every $100 above certain income levels based on your tax filing status:
- Single Filer: $75,000
- Head of Household: $112,500
- Married/Joint Filer: $150,000
5. At what income level will I not qualify for a stimulus check?
- Single Filer: > $99,000
- Joint Filer (no children): > $198,000
6. How do I claim my stimulus check?
Except filing a tax return, you don’t have to do anything to claim your stimulus check. The IRS will send you a check automatically to either your bank account through direct deposit or your mailing address listed on your tax return.
6. When will I get my stimulus check?
Direct Deposit: a few weeks
By Mail: a few weeks (or a few months)
7. I want a stimulus check faster. Can I provide my direct deposit information?
Yes. The IRS will set up a website in the coming weeks for you to submit your bank information for direct deposits.
8. Do I have to pay income taxes on the stimulus check?
No.
9. I’m a senior citizen and/or get Social Security benefits and am not required to file a tax return.
You’re eligible and don’t have to file a tax return.
10. I haven’t filed my taxes for 2018 or 2019. Can I still file them and get a stimulus check?
Yes.
11. Where can I learn more?
You can learn more from the IRS.
Helpful Resources: What To Do With Your Student Loans
