WASHINGTON (TEGNA) — The largest economic relief bill in U.S. history will likely be signed into law before the weekend, paving the way for $2.2 trillion in aid for individuals, businesses, workers and health care systems engulfed by the coronavirus pandemic.
The bill provides one-time direct payments to Americans of $1,200 per individual adults and $2,400 for married couples, plus an additional $500 for each eligible child.
The full amount will be available for individuals making less than $75,000 and couples making less than $150,000 annually. The amount a person receives will phase out if they earn more, ending for those earning more than $99,000 annually.
Use the calculator here to see how much you will likely receive and scroll down for the answers to some of the big questions people have been asking about the stimulus checks.
Will you get a stimulus check if you receive Social Security?
According to Fortune Magazine, the proposed bill includes language that allows people who receive Social Security – many of whom are retired and do not file taxes – to receive money from the stimulus package.
The Tax Policy Center says that if you are a retiree who didn't file a return for 2018 or 2019, the IRS would use your Social Security benefit statement to determine your eligibility
In such cases, the government would access their data through the Social Security Administration to determine their rebate.
Will you get a check if you didn't file tax returns in 2019?
If you haven't yet filed your tax returns for 2019, the IRS will use the information from your 2018 returns to determine your eligibility for a stimulus check.
When will stimulus checks go out?
During the White House coronavirus task force news conference Wednesday afternoon, Treasury Secretary Steven Mnuchin said the direct payments are expected to be out within "three weeks.” But history shows that's easier said than done.
Democratic aides in the Senate told The New York Times that those with direct-deposit info on-file with the IRS should see payments within a few weeks of the bill becoming law. However, if the IRS doesn't have that info, people may need to wait a lot longer to get a check. Aides told the Times it could be up to four months for a physical check to arrive.
The Tax Policy Center noted that in 2008 there was a gap of about three months between passage of the stimulus legislation and the start-up of payments. Additionally, the IRS had worked for three months before enactment of advance payments of tax rate reductions in 2001 and child tax credits in 2003.