Coronavirus stimulus checks are part of a new deal from the U.S. Senate setting aside $2 trillion to help with combating the coronavirus from China.
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Here’s what U.S. citizens need to know about the coronavirus stimulus checks.
- The stimulus plan will have the government putting aside $250 billion in funding to help individuals.
- This will have it sending out checks to adults and children that are being impacted by the coronavirus.
- Each adult making less than $75,000 per year will receive a $1,200 check.
- That means a married couple will receive $2,400 in funding.
- However, there’s more money for parents.
- They will receive an additional $500 for each kid they have that is 17 or under.
- Adults that make more than $75,000 a year can still receive some aid, but not as much.
- The amount of the check reduces and anyone making $99,000 annually won’t be getting a check.
- Also, the checks will be based on 2019 tax filings, or 2018 filings if the person hasn’t filed taxes yet this year.
- Unfortunately, it may be a while before the checks make their way to people.
- While a date hasn’t been set for the sending of the checks, history shows it will take a couple of months before they start showing up.
- If that’s the case this time around, people may not start receiving the checks until May.
- Despite this, Treasury Secretary Steve Mnuchin says the plan is to have the checks out three weeks after Congress comes to an agreement.
As of this writing, William White did not hold a position in any of the aforementioned securities.
