Coronavirus Relief and Support

Things are moving quickly, with different information coming out daily on the financial relief and support being provided to assist during this crisis.  For the most up-to-date news, please follow us on Facebook and watch Laurie on FB Live Mondays, Wednesdays and Fridays at 5:00 pm et.

Coronavirus Relief and Support

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TODAY'S TOP INFO: Stimulus Checks

  • If you did not file a tax return in 2018 nor 2019 and you qualify for a stimulus payments, you may need to file an Economic Impact Payment (EIP) Return

OR

  • If you need to change your direct deposit information

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Schedule a FREE Financial Wellness Checkup to help tackle your finances during these tough time

Stimulus Checks

Qualification Information

Individuals

$1,200 for AGI up to $75,000

  • phases out $5 for additional every $100
  • total phase out at $99,000
  • $500 added for every dependent 16 and under


Head of Household Filers

$1,200 for AGI up to $112,500

  • phases out $5 for additional every $100
  • total phase out at $136,500
  • $500 added for every dependent 16 and under


Married Filing Jointly Filers

$2,400 for AGI up to $150,000

  • phases out $5 for additional every $100
  • total phase out at $198,000

Social Security/Railroad Retirement Benefits Recipients

These individuals do qualify and will receive their payments automatically without any further steps needed on their part.


Who else qualifies*?

  • Those with no income
  • Those who do not earn enough income to file
  • Those on assistance programs

*see below to file your Simple Return and get your Economic Impact Payments {aka stimulus check)


Who does NOT Qualify?

  • Anyone above the income guidelines
  • Dependents claimed on someone else’s return. 
  • Anyone without a valid Social Security number.
  • Nonresident aliens.


How is the check calculated?

  • The April 2020 check calculations are based on 2019 tax returns.
  • If a 2019 return has not been filed, it is based on the 2018 tax return.
  • If no tax return is required, it is based on information filed in a simple return for the Economic Impact Payment only.
  • If AGI goes below the limits during the current year, the 2020 tax year income can be used to receive the stimulus when that return is filed in 2021.


Note: if your 2018/2019 tax return was REQUIRED, but has not been filed, you will need to file a tax return before receiving your stimulus check.  CLICK HERE and let me help you file your return using my virtual tax service MobileTax.Pro

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