COVID-19

I assume many are wondering the same thing so here are the quick facts:

Congress passed the $2 Trillion Coronavirus Aid Relief and Economic Security (CARES) Act late Tuesday night (3/24/20)

This includes a check of up to $1,200 for single tax payers who earn less than $75,000 a year, with less progressively going to those who make more up to $100,000. Amount drops by $5 for every $100 in income above $75,000. Those above $100,000 receive nothing. This information is based on your 2019 tax return if filed, otherwise your 2018 tax return.

Basically: $1,200 for individuals, $2,400 for couples, $500 per child How do I Get My Coronavirus Stimulus Check? You will probably see it mid-April, possibly later. Steve Mnuchin has said “Our expectation is within three weeks we will have direct payments out where we have depository information”

If you want it as soon as possible, set up direct deposit with the IRS. If you have electronically filed your taxes before and used direct deposit in the last couple years, you are likely set. Those who have opted for paper checks in the past will likely take longer and should make extra sure to follow all medical advisory guidelines as you’re probably at higher risk of infection. (Kidding, everyone needs to take them very seriously!)

Praying for all of us! Stay optimistic and take this seriously.