By Jim Bea Sampaga
On March 27, President Donald Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES Act) into law. The $2 trillion stimulus package will be used to support individuals, families, employees, employers, healthcare and education among others.
In the second week of April, individuals started receiving their $1,200 stimulus checks from the Internal Revenue Ser- vice (IRS) under the CARES Act. Although the relief checks are sent out already, there is still time to apply and receive your check. Here’s how:
There is no need to apply or sign up to receive a one-time stimulus check. You will automatically receive the $1,200 if you have a Social Security number, filed a tax return for 2018 or 2019, and an adjusted gross income (AGI) of less than $75,000. If your AGI is between $75,000 and $99,000, you will receive a reduced payment. Additionally, parents will receive $500 per child under age 17.
If you filed a tax return for 2018 or 2019, expect the $1,200 direct deposit to the bank account you provided for your tax return. If you didn’t file yet, file your 2019 tax now. Make sure to provide your correct and updated bank information. They will also mail the paper check to your address if there’s no direct deposit setup.
Social Security recipients, railroad retirees, Supplemental Security Income and Veteran Affairs beneficiaries will also receive the $1,200 stimulus check, either by direct deposit or paper check by mail.
For those who don’t re- ceive federal benefits and don’t need to file taxes, pro- vide your payment informa- tion to the IRS website so you can receive your money quick- ly. Prepare the following in- formation when filling out the online form:
- Full name, current mailing address and email address
- Date of birth and valid Social Security Number
- Bank account details
- Driver’s License or state-issued ID
- If you have a qualifying child: name, Social Security number and their relationship to you
To enter your information, go to irs.gov/coronavirus/non-filers-enter-payment-info-here.
If you’re eligible and have done everything mentioned above but still haven’t received $1200 yet, check your stimulus payment status online by entering your social security number, date of birth and address at irs.gov/coronavirus/ get-my-payment.