The Senate approved a historic $2 trillion stimulus package on Wednesday. The legislation represents the largest emergency aid package in U.S. history.
Under the plan:
Individuals who file an individual tax return and make $75,000 or less in adjusted gross income will qualify for a $1,200 check. People making between $75,000 and $99,000 will get a check, but it will be scaled down. Anyone making more than $100,000 will not qualify.
A couple, filing jointly and making less than $150,000 will qualify for a $2,400 check. Those making between $150,000 and $200,000 will get a check, but it will be scaled down. Any couple making more than $200,000 will not qualify.
People with children will get $500 per dependent whether individual or a couple.
Whether you qualify will be based on your 2019 tax return unless you haven’t already filed in which case, the government will defer to your 2018 return.
If you don’t typically pay income tax or file a tax return, you will still be eligible for a check but Senator Chuck Schumer’s office tells News10NBC you will need to file with the IRS. The IRS will provide simple provide information on how to file in the coming weeks. The checks will not impact any other government services you are being provided.
The money will be delivered either by direct deposit or paper check, depending on how you typically get your tax refund. Experts say people who have already provided their direct-deposit bank account information to the IRS could receive checks in 3 weeks. Those who have not could be waiting up to four months to receive their checks.
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