Coronavirus Stimulus Check 2020 [how much you’ll get & who qualifies]

(The following is a transcription from a video I recorded. Please excuse any typos or errors.)

Quick little update for you.

The Senate and the White House reached an agreement on this big stimulus bill, the Trump coronavirus stimulus check for 2020.

Let me share with you who will be eligible, how much you will get, what the qualifications are, and when you can expect to receive the stimulus check from the U.S. government.

And so if you haven’t heard about this, it’s pretty cool because you’re probably going to be getting a nice fat check from the government.

Here are the details that you need to know.

It is expected to be up to $1,200 per adult and $500 per child, which is pretty fun.

These amounts are based off of your 2018 tax returns if you haven’t filed 2019 tax returns yet.

Taking Your Income Level Into Consideration

And according to this article from the Los Angeles Times, the amount received will decline gradually beginning with individuals who make $75,000 a year or married couples who make $150,000 total each year.

Individuals making $99,000, or above or couples making $198,000, or above would receive no check.

Which looks like this:

View this post on Instagram

The Senate and the White House reached a deal about the stimulus bill. . Here are some of the details: . “The latest $2-trillion stimulus bill is expected to include direct payments of $1,200 or less to most adults, loans to businesses and an expansion of unemployment insurance and other aspects of the social safety net. It comes at a time when millions of Americans have been asked to stay away from school and work, and remain inside their homes to reduce the spread of the disease. The amounts of the one-time payments, which officials hope could go out to Americans as soon as early April, will be based on income reported in 2018 taxes, declining gradually beginning with individuals who made $75,000 or married couples filed jointly who made $150,000. Individuals making $99,000 or above or married couples making $198,000 or more would receive no check. People would also receive an additional $500 per child.”

A post shared by SeedTime Money (@seedtime) on Mar 25, 2020 at 6:06am PDT

And here is another helpful breakdown of how big your stimulus check will likely be:

View this post on Instagram

The government has drafted a $2 trillion stimulus that includes sending checks directly to individuals amid the coronavirus crisis but it will likely take until at least May before the money goes out.⁣ ⁣ Under the draft bill, single Americans would receive $1,200, married couples would get $2,400, and parents would see $500 for each child under age 17.⁣ ⁣ However, the payments would start to phase out for individuals with adjusted gross incomes of more than $75,000, and those making more than $99,000 would not qualify at all. The thresholds are doubled for couples.⁣ ⁣ Checks would be based on 2019 tax returns if they’ve already been filed. If not, they’d be based on a 2018 filing.

A post shared by His and Her Money® (@hisandhermoney) on Mar 25, 2020 at 7:36pm PDT

When will you get your check?

Stimulus Check Timeframe

The fun thing about is they’re expected to be shipping within the next few weeks.

So that’s really cool. And you don’t normally see the government move this fast on things, but the stock market’s been doing fantastic the last two days as a result of the expectation of this thing coming through.

While I’m not really excited about the long term effects of the government giving away all this money, I know a lot of people who will be excited to get a little bit of cash in their pocket.

So that’s the latest update for the Trump coronavirus stimulus check for 2020!

Let us know in the comments below what you plan to do with this Trump stimulus check that you will hopefully be receiving soon!

Tips to put more money in your pocket & Biblical principles on managing it well.

Take our FREE E-course to get 5 simple lessons to help you improve your financial life today!

Master your money, pay off debt, & save more using key Biblical principles! ($27 value – yours FREE)

Advertising Disclaimer: The pages on this site help us pay the bills by using affiliate relationships with Amazon, Google, Ebay and others but our opinions are NEVER for sale. Find out more here.

Source link