Stimulus Checks: Who Is Eligible and How Much Will They Be? (no income to qualify but you must file)

[Celerity]

Senate plan would send $1,200 checks to many, including Social Security recipients

https://www.aarp.org/politics-society/advocacy/info-2020/coronavirus-stimulus-checks.html

The Senate voted unanimously late Wednesday night to approve a $2 trillion economic stimulus package that would send most Americans checks of up to $1,200, as a way to put money directly in the pockets of families struggling to manage the economic fallout of the coronavirus pandemic.

The legislation, which still needs to be passed by the House of Representatives and signed by the president, would give single adults who reported adjusted gross income of $75,000 or less on their 2019 tax returns a one-time check for $1,200, according to draft legislation. Married couples who filed jointly would receive $2,400. Families would get an additional $500 for each child.

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Who qualifies for a stimulus check?

The size of the check would decrease based on income for individuals who earned more than $75,000 based on their tax return for last year (or their 2018 return if they have not filed yet). The rebate check for individuals would shrink by $5 for every $100 earned over $75,000. For couples who filed jointly, the reduction would start once they earn more than $150,000; for heads of household, at $112,500. This calculator can help you determine how much you might receive in a stimulus check. Individuals who earned more than $99,000 and couples who earned more than $198,000 jointly would not receive checks.

According to the legislation, people who do not receive Social Security benefits and also do not typically file taxes because their income is very low will need to file a 2019 tax return in order to receive a stimulus check. That may be a challenge for some, however, because many services that help low-income taxpayers file tax returns for free have suspended in-person operations to deter the spread of the coronavirus. Most low-income taxpayers are eligible to file tax returns online for free through the IRS Free File program.

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[rzemanfl]

1. K&R. Typical of Repukes to make getting it hardest for people who most need it. n/t

[asiliveandbreathe]

3. And.. If you did recv. SSA 1099..IRS has your info..

What about people on Social Security?

People on Social Security are eligible to receive the coronavirus relief payment as long as their total income does not exceed the limit. Low-income Americans on Social Security do not need to file a tax return. As long as they received an SSA-1099 form (the Social Security benefit statement), the federal government will be able to send them a payment via the usual way they get their Social Security payment. Retirees and people on disability are both eligible for the special payment.

https://www.washingtonpost.com/graphics/business/coronavirus-stimulus-check-calculator/?itid=hp_hp-top-table-main_calculator-130am%3Ahomepage%2Fstory-ans

[WePurrsevere]

6. This!...

Supposedly seniors, veterans and the disabled already on it, those who are low enough income so filing taxes is unnecessary, and have gotten Form SSA-1099 won't need to file to get this...

We need to keep in mind that this is if it passes the House and is signed by Trump as it is now. There may be some changes...
https://www.cbsnews.com/news/coronavirus-stimulus-relief-bill-house-vote-friday/

[Wounded Bear]

8. I filed anyway...

I'm below the limit and didn't have to, but I did it last week before all this came about.

But I'm double covered.

[Wounded Bear]

9. I dont' think Speaker Pelosi will allow any changes...nt

[WePurrsevere]

14. Probably not if it can be helped....

https://abcnews.go.com/Politics/congressional-leaders-hope-avoid-delay-drama-house-vote/story?id=69818606

Congressional leaders hope to avoid delay or drama in House vote on $2T relief bill
House Speaker Nancy Pelosi says a fourth aid bill might be needed.

Hopefully it will pass quickly but unfortunately jerks and purists often feel the need to create for drama so this 'could' take a bit longer than we hope for.

[I_UndergroundPanther]

7. So glad I got that letter.

I get one every year.

[CaptYossarian]

4. Don't forget to report this as income for next year.

You will be taxed.

[Yonnie3]

10. Washington Posts says no

Are the checks taxable? No, they are not taxable.

https://www.washingtonpost.com/graphics/business/coronavirus-stimulus-check-calculator/

Of course the bill hasn't passed yet.

Unemployment benefits and possibly the additional payment of 600/week will likely be taxable income.

[CaptYossarian]

13. I was going on the fact that my state refund is federally taxed.

Uncle Vlad is double-dipping.

[WePurrsevere]

11. Not necessarily...

https://www.hrblock.com/tax-center/income/other-income/how-much-do-you-have-to-make-to-file-taxes/

OTOH if you receive certain income based assistance like SSI, Food Stamps, Medicaid, etc it 'could' throw that off. Once we know for sure what we'll get (House needs to pass, etc yet) I suggest checking with your caseworker.

[marlakay]

12. My husband told me to put it in savings

Who knows what we might need it for or who to help. My grandson lost his job, very luckily rest of my kids have essential jobs.