Under the $2.2 trillion relief package hammered out by Republican and Democratic leaders in Congress and signed by President Donald Trump on Friday, all single taxpayers earning up to $75,000 will receive $1,200. For each qualifying child under 17, a single taxpayer will receive $500. Employed, unemployed and self-employed taxpayers can qualify, so long as you filed your taxes in 2018 or 2019. Married taxpayers filing jointly and earning up to $150,000 will receive $2,400, with qualifying children adding $500 each to the total.
When do checks come out?
Americans who have already filed their 2019 tax returns and opted for direct deposit will not have to do anything to receive the coronavirus rebate check and will get checks the quickest, possibly within three weeks. For others the process could take longer, but Treasury Secretary Steven Mnuchin told CBS on Sunday that the White House would create a “web-based system” for people who do not have direct deposit so they can get the money immediately. Even individuals with zero income are eligible for a rebate as long as they aren’t the dependent of another taxpayer and have a valid Social Security number. However, those who have not filed tax returns for 2018 or 2019 must file a 2019, unless they receive Social Security of veteran’s benefits. The checks will not be included in your taxable income and you won’t have to pay taxes on it at the end of the year like you do on other income.
Are immigrants eligible?
Non-U.S. citizens with a Social Security number who live and work here, including green card holders and workers using visas such as H-1B, are eligible to receive checks. Immigrants who aren’t authorized to work in the U.S. aren’t eligible to receive payments. The ineligibility also applies to whom pay federal taxes using what is known as an Individual Taxpayer Identification Number, which contribute an estimated $11.74 billion in state and local taxes each year, according to the Internal Revenue Service. The IRS generates these tax processing numbers only for certain individuals who cannot get a Social Security number.
By Piero Salussolia P.A.
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