Most adults will get checks of $1,200 per person and $3,400 per family of 4 in the massive coronavirus stimulus bill.
NBC News reported that for Americans who haven’t set up direct deposits with the federal government, it could take much longer: up to five months for about 60 million Americans to receive a paper check.
Business Insider’s Bryan Pietsch wrote: “In early May, the IRS will send out paper checks to those without direct deposit, and it could take around 20 weeks to issue all of the checks, the report said.
Those with lower incomes will reportedly be prioritized, and those on Social Security will receive their payments as they would their Social Security checks.”
For earners between $75,000 and $99,000, the amount gradually reduces.
And, individuals who earn more than $99,000 and couples over $198,000, they get $0.
About 85 percent of individuals earn under $75,000, meaning they would get the full amount. Roughly 90 percent of individual earners are under the $99,000 cap. About 90 percent of households would get the full $2,400 for two adults.
The IRS will apply the means test to 2018 tax filings unless someone already has filed their 2019 taxes.
IRS does not have information available yet on stimulus or payment checks.
- Instead of calling, please watch for updates to www.irs.gov/coronavirus
- Facebook: https://www.facebook.com/IRS
If you feel this check is not enough!
Only $1200. Congress needs to hear from you!
Congress just finalized the stimulus package and it is expected to pass.
However, despite the massive outcry of voices saying that a one-time check isn’t enough, the bill includes only a single payment.
Elected officials need to hear from you now. They need to know what this moment is like for you and your loved ones.
Right now: We are looking for people to send us a quick video…