Everything you need to know about those stimulus checks
Checks worth up to $1,200 will soon be going out to everyone who qualifies. So, how do you know if you qualify?
Adults making less than $75,000 will get the full amount. Married couples filing together and bringing in less than $150,000 can expect double that, so $2,400.
Parents can get $500 for each child under the age of 16. Social security beneficiaries will get the full amount.
Don’t worry; these checks aren’t taxable and they’re not a loan, so you won’t have to pay Uncle Sam back down the road.
People and households making more than the set threshold will get less, leading up to these amounts.
Anyone making 99,000 (or 198,000 for joint filers) will not be included in the rebate. College students who are listed as dependents will also not benefit from the checks.
So, what do you need to do?
Not much if you’ve filed your 2018 or 2019 taxes. Just wait for your direct deposit.
If you have moved and haven’t filed your taxes, you’ll need to go to the IRS website. Treasury Secretary Steven Mnuchin says a web portal will be up for Americans to update their banking information.
As of Thursday, that portal still wasn’t up.
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