When will you get your check?
Will you qualify?
Here’s what we know so far.
When will I get my stimulus check?
No exact date for the delivery of the one-time payments has been released.
“As soon as Congress passes this, we will get this out in three weeks,” Treasury Secretary Steven Mnuchin said last week.
But in an interview Wednesday morning with CNN, Sen. Chuck Schumer said: “I think the president said that he would have it out by April 6.”
If you’re applying for unemployment benefits, relief may come even quicker. The bill would give an extra $600 per week for four months, a real lifeline for those who have lost their jobs.
Will I qualify to get a stimulus check?
If you earn too much money, you won’t qualify.
Individuals are eligible for the full amount if they have adjusted gross income of less than $75,000 a year. The payment is reduced for singles earning up to $99,000. If you earn more than $99,000, you get no benefit.
For married couples who file a joint tax return, you get the full amount if your adjusted gross income is less than $150,000. If you earn up to $198,000, you will get a partial payment. Married couples who earn more than $198,000 get no payment at all.
How much of a stimulus check will I get?
According to the current version of the bill, individuals would get the lesser of $1,200 or their net income tax liability but not less than $600.
If you are married filing taxes jointly, you’d get the lesser of $2,400 or your net income tax liability, but not less than
$1,200.
Parents would get an additional $500 for each “qualifying child.”
Will my kids get a stimulus check too?
The bill allows for the extra $500 per child to be paid to taxpayers who claim the child as a dependent. If your college student files his own tax return, it appears he won’t get a payment if you claim him as a dependent.