STIMULUS PACKAGE – WHO QUALIFIES?

• Single filers who make $75,000 – $99,000.
• Head of Household filers who make $112,500 – $146,495
• Married Filing Joint filers who make $150,000 – $198,000
• If you collect social security benefits and do not file a tax return the IRS will be pulling data from the social security office to mail check

HOW MUCH WILL YOU RECIEVE?

• Single adults will receive $1,200
• Married couples will receive $2,400
• People who have children 16 and under will receive an additional $500 for up to two qualifying children
• The stimulus check will reduce by $5 for every $100 over $75,000, $112,500 & $150,000 threshold completely eliminating after the $99,000, $14,695, & $198,000

HOW WILL YOU QUALIFY?

• The fastest way to get your stimulus check is to file a 2019 tax return with direct deposit before the IRS starts releasing the checks.
• If you do not have a 2019 return filed they will use your 2018 return to qualify you and mail you a check.
• If you do not have a 2018 or 2019 tax return filed with the IRS you should file as soon as possible before they start issuing the checks.
• If your 2018 and/or 2019 income is over the limits but your 2020 income has dropped due to this epidemic you will get a refund on your 2020 taxes making up the difference for what you should of received.
• People who have no income or are not required to file due to income being to low are recommended to file a return with at least $1.00 on it to qualify to receive their stimulus check.

 

WHO DOES NOT QUALIFY?

• If you are over the age of 16 but a dependent on someone else’s tax return for the tax year 2018 or 2019 then you do not get a stimulus check.
• If you are collecting SSI (supplemental security income) also known as disability income and this is your only source of income then you do not qualify to receive a stimulus check.