Individual Stimulus Payments

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Track your stimulus check here

Single & Married Filing SeperateHead of HouseholdMarried Filing Jointly
Stimulus Payment$1,200$1,200$2,400
Full Payment (AGI)≤ $75,000≤ $112,500≤ $150,000
No Payment (AGI)> $99,000> $136,500> $198,000
Phase-out*In between thresholds – payments reduced by $5 for each $100 above floor**

Checks will start going out on April 10 via direct deposit

Two waves
1st – April 10
2nd – no later than April 20

Payments that need to be mailed will go out on a date that is still TBD.

Seniors receiving SSA, SS disability & other receiving veterans benefits and 1099Rs do not need to file

Individual Stimulus Payments Info

  • $500 stimulus payment for each qualifying child
  • Child tax credit definition (under 17 years old in the tax year 2019)
  • If dependent in 2019 but not in 2020, will be eligible for the remainder of $1,200 credit in 2020
  • Advance rebate of credit during 2020
  • Eligibility based on 2019 tax return
  • If a taxpayer has not filed their 2019 tax return yet, rebate will be based on their 2018 return.
  • If a taxpayer does not have a 2018 tax return, the IRS will use the 2019 Form SSA/RRB-1099 (+SSDI)
  • Advance rebate reduces credit allowed for 2020 – will receive any shortage due but won’t have to pay back excess.
  • Valid ID number (SSN) on return required, including spouse and child (ITIN holders don’t qualify)
  • Non-resident aliens don’t qualify.

Scams & Repayment

  • No repayment of this credit
    • Yes, it will be reported on the income tax return
    • No, it will not be paid back
    • If you are eligible for more than you received, the difference will be returned as part of your refund in 2021
  • Treasury & SSA are reporting scams
    • Report any scammers to local authorities & TIGTA
    • Client outreach esp. the elderly

Resources:

Economic Impact Payment Information Center
FAQ on Federal Coronavirus Relief Bill (CARES Act)

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