Everything You Need To Know About What The COVID-19 Stimulus Bill Can Do For You!

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COVID-19 is a quite a confusing time financially. With a record number of 6.6 million people filing for unemployment in the last two weeks, many have lost their job, lost access to their side gigs because of social distancing and many more circumstances, there is a lot of uncertainty. A few key things to know about the COVID-19 are –

To receive the one time payment of $1,200, you must:

  • be over 18 years old
  • not be married
  • have no children
  • have filed your 2019 taxes
  • receive an annual adjusted gross income under $75,000

To receive the one time payment of $2,400, you must:

  • be over 18 years old
  • be married
  • have no children
  • have filed your 2019 taxes
  • receive an annual adjusted gross income under $75,000

For every child under 17 years old, parents or guardians will receive an additional one time payment of $500. 

The Internal Revenue Service determines the means to send your COVID-19 Stimulus Bill payment by your 2019 tax return. If you haven’t filed your 2019 tax return, the IRS will use the information from your 2018 tax return. If you provided your direct deposit information to the IRS, you will receive the payment via direct deposit. If not, the payment will be sent via mail. If you haven’t filed your 2019 tax return, the IRS will use the information from your 2018 tax return.

The target date for direct deposits is Friday, April 17th. 

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