Stimulus checks
Who will receive them?
The eligibility will be based on your adjusted gross income (AGI), which corresponds with line 7 on the 2018 return and line 8b on the 2019 return. The stimulus amounts are listed in the table below.
Stimulus Amount
Income Bracket
Single: $1,200 + $500 per child (under 17)
Joint: $2,400 + $500 per child (under 17)
Single: $0-$75,000
Joint: $0-150,000
Single: $75,000-$99,000
Joint: $150,000-$198,000
Single: $75,000-$99,000
Joint: $150,000-$198,000
Does not qualify
Single: $99,000+
Joint: $198,000+
When will they come?
The distribution of stimulus checks will begin in the next three weeks and will be distributed automatically.
How will they come (direct deposit vs check)? How to get direct deposit?
The stimulus checks will be sent by direct deposit using the same bank account reflected on the most recent tax return filed (either 2018 or 2019). For individuals who do not have direct deposit information submitted to the IRS, the Treasury plans to make an online submission portal for you to submit those details. No timeline is given for the publication of the online portal or for the mailed checks, however, the IRS did recently come out with a website offering more info, including a link to enter your payment information. It currently shows that it is “Coming mid-April”. Here is a link to the website. https://www.irs.gov/coronavirus/economic-impact-payments.
What if I file a return later in the year? Am I still eligible?
Yes. These stimulus checks will be available for the remainder of 2020, but taxpayers are encouraged to file as soon as possible to receive their stimulus check.