Though the details of the plan have yet to be finalized and voted Authentic Custodia in Silicone per Apple IPhone 11 Max-ORIGINALE on, Congress has essentially agreed on the major provisions. The CARES Act, which lawmakers spent the past several days hashing out, includes cover samsung galaxy s6 pokemon a historic Nillkin cover iphone 5/5s/5se (nature tpu) (white) – Uptel $2 trillion in relief funds.
But the big question on most people’s minds is whether they qualify for a cut of the money. Here’s a look at the plan, who qualifies and when you can cover samsung s8 plus specchio expect to get paid.
Do I qualify for a coronavirus relief check
The amount of money you may receive as part of this stimulus package is based on your adjusted gross income. If you already filed your federal taxes for 2019 (the deadline Qoo10 – Leather case ~ iphone 5sE case cover iphone 6 / 6s case was extended to July 15), eligibility will Girls Case Polkadots Cup Cake 3D Silicone TPU Covers + Lanyard be based on your AGI from Cover Icon iPhone 11Puro that tax cover samsung galaxy s iii return. If you haven’t filed yet, the IRS will rely on information from your 2018 return or the Social Security Administration to determine eligibility.
Here’s the bad news: Not everyone will qualify for a relief check
The maximum amount you can receive is $1,200, or if married filing jointly, $2,400 per couple. That amount phases out for single filers with an AGI between $75,000 and $99,000, joint filers with an AGI between $150,000 and $198,000 and heads of household with an AGI between $112,500 and $146,500.
Those who qualify for the $1,200 credit will cover samsung j5 2017 specchio also receive an additional $500 for each qualifying dependent 16 years old or younger.
Those excluded from receiving a coronavirus relief check include nonresident aliens, taxpayers who can be claimed on someone else’s return as a dependent, and estates and trusts.
How will stimulus checks be paid out
The stimulus money is technically a tax credit for 2020 that will be paid out, in advance, as soon as possible. “For the vast majority of Americans, no action on their part will be required in order to receive a rebate check as IRS will use a taxpayer’s 2019 tax return if filed, or in the alternative their 2018 return,” a summary of IPHONE 6S CUSTODIA Antiurto Operai Resistente Hybrid Robusta Cover the legislation says.
That means even though many taxpayers haven’t even filed their 2019 taxes yet, qualifying recipients will still receive their checks in the coming weeksthat is, For Cat Cover IPhone X 7 Plus 8 5 SE 6s S Xs Max XR For Xiaomi Mi if they’re set up for direct deposit. According to Senate aides, you Wallet Book Case Cover IPhone 5 SE Archives – Ukeyy will receive your stimulus payment quickly (the president is pushing for a deadline of April 6) as long as you have bank account information on file with the IRS. If not, it could take up to four months to receive a physical check in the mail.
About half of households have filed their 2019 taxes already even though the deadline has been extended to July due to wallet cover samsung a32017 the pandemic, and aiino – Strongly cover for iPhone 11 Pro – Pink for the other half, the IRS may use their 2018 data. But if they didn’t file that year either, they’ll need to file their 2019 return to get any money.
A problem with this policy is that some households may have been eligible based on their income from one year, but not the other, and will potentially miss out on relief.
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Another potential problem is that millions of households don’t file tax returns even though they may have paid federal taxes through payroll contributions. There’s not much information about such households, but one study said roughly 8 million households paid taxes in 2003 and didn’t file 1040s, meaning they may have cover samsung j5 2017 colorata left refunds on the table.
Low income households that do their taxes with the help of certified Volunteer Income Tax Assistance clinics will be out of luck, with the pandemic having shuttered those offices.
“This would have been an ideal circumstance for somebody to walk in to a VITA site,” said Howard Gleckman, a senior fellow cover samsung s8 plus silicone morbido with the Urban Brookings Tax Policy Center.
What else does the stimulus plan include
In addition to direct payouts to American taxpayers, billions of dollars in benefits and loans will go to workers, businesses and hospitals to help them recover from the coronavirus fallout. There are numerous provisions outlined in the CARES Act; here’s a look at four major agreements included in the stimulus package.
1. Benefits are also extended by 13 weeks for workers who run out of the standard 26 weeks of state benefits (some states offer less). The new plan also eliminates the waiting period to receive benefits and includes previously ineligible workers such as freelancers, contractors and furloughed employees.
2. Help for small businesses: The stimulus plan also provides $350 billion in funding for emergency loans to small businesses. Those that promise not to lay cover samsung sm t335 off employees or commit to rehiring employees that they let go will have some or all of their loans forgiven. These federally guaranteed loans will be issued by community banks and cover samsung note 10.1 2012 will be available through June 30.
3. Bailouts for major companies: A $500 billion fund will be created to provide distressed businesses with emergency loans, with a set amount to be set aside to help specific cover samsung j3 bff industries that were hit particularly hard Spigen Custodia Cover Smartphone in TPU per iPhone 5 / SE fino a 4 by the pandemic, such as airlines, hotels and casinos. a 5 cover samsung 2017 (Trump businesses are barred from receiving any of this relief.) This fund will be managed by the Treasury Department.
4. Funding to hospitals and communities: Finally, $130 billion will go to hospitals and health systems that are struggling in the wake of the pandemic. Another $150 billion will be provided to state and local governments to fund relief programs.
Source: Article by Casey Bond and Arthur Delaney
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