The U.S. Government passed a pretty big stimulus package to help everyone during this trying time. This historic $2 trillion plan will infuse the public with some cash to help offset the struggles caused by the COVID-19 situation.
As long as you have filed a 2018 or 2019 tax return, you shouldn’t need to do anything. The Treasury Department will use your mailing address and direct deposit information(if you supplied it previously) to mail or deposit your stimulus check. If you didn’t have to file for 2018, you do still have time to file for 2019. Tax filing was extended to July 15, 2020 for 2019 returns.
How Much Will You Get?
A single person with an AGI of $75,000 or less will be getting $1200. Married couples filing jointly with AGI of $150,000 or less will receive $2400. Each qualifying child will bring another $500 per. (Note – qualifying dependant under age 17.)
The IRS is expected to begin issuing checks within the next 3 weeks. You should get a notice in the mail informing you 2-3 weeks after payment has been sent.