The federal rescue package provides a one-time payment of $1,200 for all Americans earning less than $75,000 a year. This money is totally separate from unemployment benefits — and for the jobless, will be in addition to unemployment aid. It will likely be a critical lifeline for many Americans.
The payments begin to phase out at above $75,000 for individuals and $150,000 for couples filing jointly and drop to zero for individuals above $99,000 and couples earning $198,000. For heads of household with one child, the benefit starts to decline at $112,500 and falls to zero at $146,500. Even those who just receive Social Security or other government benefit programs can receive a check.
A congressional memo obtained by the Associated Press said about 60 million Americans will receive the checks through direct deposit, starting the week of April 13. Those payments will go to households that have filed taxes in 2018 or 2019 and that provided the IRS with direct deposit information. For everyone else, checks will be mailed beginning May 4. The paper checks will be issued at a rate of about 5 million a week, which means it could take up to 20 weeks to distribute all the checks. That timeline would delay some checks until the week of Aug. 17.
Be the first to know
Get local news delivered to your inbox!