Coronavirus: how will stimulus checks work in the United States?

  • Coronavirus: how will stimulus checks work in the United States?

Coronavirus: how will stimulus checks work in the United States?

The United States government is preparing to send out a payment of $1,200 to USA citizens amid the coronavirus pandemic but not everyone will receive it straight away.

Adults with disabilities or elder adults who are claimed also do not qualify. "We want to get this money quickly into your hands".

Parents with children who are 16 years old and younger will receive $500 per child.

"Everyone is eligible for the full rebate payments as long as they have an SSN and their household incomes are not too high", The CARES Act states.

Neal was one of many lawmakers pushing the Trump administration to change course after the IRS's announcement earlier this week, noting that lawmakers had been "inundated with concerns from constitutents".

The payments are part of a $2.2 trillion rescue package to help people and businesses affected by the coronavirus shutdown.

Treasury Secretary Steven Mnuchin said Thursday that the first round of stimulus checks would be directly deposited into Americans' bank accounts in about two weeks. For instance, people with incomes above $US20,000 and less than $US30,000 will be sent checks on May 1.

The payment steadily declines for those who make more. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.

But here is where it gets a little confusing.

"Social Security recipients who are not typically required to file a tax return do not need to takean action and will receive their payment directly to their bank account", Mnuchin said in a Treasury release.

The payments will be for the maximum amount, $US1,200, and paid via the deposit or mailing information reported on tax forms SSA-1099 for Social Security recipients and RRB-1099 for people who retired from railroad service. "Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits", the department said.

The memo reportedly stated that about 60 million Americans will receive direct deposits in mid-April so long as such taxpayers provided their direct deposit information to the IRS on either their 2018 or 2019 tax returns. Social Security beneficiaries who are not typically required to file tax returns will not need to file to receive a payment.

The government will default to sending you the check by mail if you did not use direct deposit.

Those payments will take about three weeks to process. It has not yet set a deadline for updating that information. The IRS has direct deposit information for these individuals from their 2018 or 2019 tax returns. Associated Press contributed to the report.