I am writing to update you regarding stimulus checks that will soon be approved by Congress. 

The situation remains fluid so the information below may change.  That said, I believe the changes will be minor.  Please feel free to forward this information along to others.

REMEMBER:  The IRS NEVER sends emails, and they NEVER call you.  The IRS ONLY conducts business using regular mail.  Anyone who emails or calls you claiming to be from the IRS is a scammer.

Who is eligible?

Everyone is eligible except for nonresident aliens and those who can be used as a deduction for another person.  Eligible people include seniors, veterans, employed, self-employed unemployed and low-income Americans.

If you receive social security you are eligible for the stimulus check.  If you did not file a 2018 or 2019 tax return then the government will use information from your Social Security Benefit Statement to calculate the amount of your check.

How much can I expect to receive?

If you file individually:

Up to $1,200, and that amount decreases for people who earn more than $75,000 a year. The amount phases out completely if you earn more than $99,000.

If you file jointly:

Up to $2,400, plus $500 per child, and that amount decreases for couples who earn more than $150,000 in a year.  That amount phases out completely if you earn more than $198,000.

If you file as heads of household:

Up to $1,200, plus $500 per child, and that amount is reduced for people who earn more than $112,000 a year. The extent to which it is decreased depends on how many children you have.

Income is based on your 2019 tax return, but if you haven’ filed yet then your 2018 tax return applies.

When and how are payments made?

Payments will be made “as rapidly as possible” and no later than Dec. 31, 2020 (that is not a typo). They will be made via direct deposit to an account that the person has authorized for tax refunds or federal payments on or after Jan. 1, 2018.

Notice will be sent to the person’s last known address within 15 days of payment informing them of the method and amount of payment. A phone number will also be provided so people can call the IRS in the event they did not receive it.

 Stay safe and healthy,

Gary