A number of people have applied for unemployment due to lay offs from the COVID-19 pandemic. Companies don’t have enough money for everyone to work remotely, so they laid off a number of employees to stay financially stable. Well the US government has decided to create a stimulus package for those in need. This package will help those who have been impacted by the coronavirus pandemic. The stimulus package comes after the federal government passed the $2.2 trillion bill.
The stimulus checks will be distributed as $1,200 per adult and $500 for each qualifying child.
Who is eligible?
All households with incomes of about $91,000 or less.
Parents with children under the age of 17, will receive $500 for each qualifying child.
Married couples filing jointly who make less than $150,000 or $75,000 for single filers. (Fool)
How do I receive my check?
If you have filed your tax returns for 2018 or 2019, the IRS has your information on file. The check will either be directly deposited into your account or you will receive a check in the mail. If you did not filed your 2018 or 2019 taxes, you must submit a "simple tax return."
When can I expect for my check to arrive?
According to CBS News, at the White House on Sunday, Treasury Secretary Steven Mnuchin said he expects people will begin to receive their checks within three weeks if they have direct deposit set up with the IRS.
2019 Tax returns have also been extended and are now due on July 15, 2020.