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Coronavirus stimulus checks up to $1,200 arrive soon: How much will you get, when? The government's economic relief package includes coronavirus stimulus payments from the IRS for a majority of US taxpayers. Here's what you need to know.

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Coronavirus stimulus checks up to $1,200 arrive soon: How much will you get, when?
The government's economic relief package includes coronavirus stimulus payments from the IRS for a majority of US taxpayers. Here's what you need to know.
[Image: cliffordcolby.jpg]
Clifford Colby
April 9, 2020 10:00 a.m. PT




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As part of the stimulus package, you may be eligible for a payment from the federal government.
Angela Lang/CNET
For the most up-to-date news and information about the coronavirus pandemic, visit the WHO website.
The first wave of coronavirus stimulus checks are expected to go out in days, and if you're eligible, the Treasury Department and the IRS will deposit the cash directly into your bank account or mail you your check. Your chances to get some amount of 2020 stimulus money are high. As many as 83% of taxpayers may qualify to receive an economic impact payments, according to The Washington Post, including people who regularly receive Social Security payments.
We're here to answer your questions: Are you eligible to receive a $1,200 payment? What is the deposit date if the IRS is sending your check directly to your bank? How will the money arrive, what are the requirements and how much will you receive? What should you spend it onCan you track your 2020 stimulus check
But first, some background: Eligible US taxpayers can receive up to $1,200 from the federal government as part of a $2 trillion relief package intended to help people pay rent, purchase essentials and jog the economy as unemployment levels rise. The first 2020 stimulus checks should start to arrive shortly, the second or third week of April.
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In addition to the payments for individuals who meet the requirements, the new economic stimulus law includes help for people who are unemployed or owe student loans and financial support for small businesses and their employees.
Not everyone will receive the total $1,200 cash payment amount and some won't get a stimulus check at all. Keep reading for help on finding out how much you're entitled to. We'll continue to update this story as developments occur. Here's more information on how to avoid COVID-19 scams and how else you can get financial relief during the coronavirus outbreak.

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Now playing: Coronavirus stimulus checks: Everything you need to know
 2:06
How much stimulus money you get depends on your taxes
The total amount of your stimulus check will be based on your adjusted gross income, or AGI, from your 2019 federal tax filing or -- if you haven't filed this year -- your 2018 filing.  
If you've filed your 2019 federal tax return, you can find that figure on line 8b of the 2019 1040 federal tax form. It's line 7 on the 2018 1040 tax form. If you haven't filed this year, don't worry. The US government has delayed the due date for 2019 taxes to July 15 as a result of coronavirus.
This is who is eligible for a stimulus payment


The amount you'll receive will depend on your total income in 2019 or 2018. If you qualify, you'll receive one payment. Here's who qualifies:

  • If you're a single US resident and have an adjusted gross income less than $99,000
     
  • If you file as the head of a household and earn under $146,500
     
  • If you file jointly without children and earn less than $198,000

Read on for how your payment is calculated and how much you can expect. You can also look at this calculator from the Washington Post.
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Every little bit helps.
Angela Lang/CNET
How much you'll get as a single taxpayer
A single US resident must have a Social Security number and an AGI under $75,000 to receive the full amount of $1,200. The sum decreases as your AGI goes up. If your adjusted gross income reaches $99,000, you won't be eligible for the stimulus. 
Heads of household
If you file as head of a household, you will get the full $1,200 payment if your AGI is $112,500 or less, with the amount decreasing till you reach $146,500.
Couples filing jointly
Married couples filing jointly without children with an adjusted gross income below $150,000 will get a $2,400 payment, decreasing to zero at $198,000. For each child age 16 or younger in the family, parents will get a payment of $500. Older children and other dependents may not be eligible for a payment.
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If you haven't filed federal taxes for 2018, do that right now
The IRS said if you haven't filed your 2018 federal taxes, that could affect your stimulus check and urges anyone who hasn't filed a 2018 tax return to file now. Be sure to include direct deposit banking information on the return.
Read more: The best tax software for 2020: TurboTax, H&R Block, TaxSlayer and more
If you're typically not required to file a tax return, you still can receive a payment
Many who normally are not required to file a tax return -- including senior citizens, Social Security and railroad retirees -- will not need to file a simple tax return to receive the payment, the IRS said. The Social Security Administration said it is working the Treasury Department for payments for Supplemental Security Income (SSI) recipients.

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Now playing: How to file a tax extension during the COVID-19 pandemic
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What about Social Security recipients?
The Treasury Department said that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive a payment. Instead, the IRS will use the information on Form SSA-1099 for Social Security beneficiaries who did not file tax returns in 2018 or 2019.
When will the checks will go out?
The first people should begin receiving their checks within two weeks if they have direct deposit set up with the IRS. If you've not set up direct deposit with the IRS, it may take longer and the government will mail your check. Here's what we know about tracking your stimulus payment so far.
You'll be able to set up direct deposit to have the check sent to your bank account
If you don't have direct deposit set up but want to receive the payment electronically, the federal government will create an online system that will let you set up electronic payments so you get the money deposited directly into a bank account, according to US Treasury Secretary Mnuchin
The IRS said the online tool will be available by mid-April. To avoid scams, the IRS cautions you not to provide your direct deposit or other banking information to others who offer to help you set up an electronic transfer.
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Do you need to sign up, apply or request your check?
For most, the federal government will automatically send your check to you electronically or in the mail, if you qualify. If you've not filed a tax return for 2018 or 2019, the IRS said you may need to file one to receive a payment. The IRS's coronavirus page will soon have instructions who is required to file and how.
What to do if you don't receive your check
If you qualify for a payment, you should expect a notice in the mail from the government with information about where and when it sent your check. If you receive the notice but not the check or direct deposit, contact the IRS using information in the notice.
We have tips for how best to use your stimulus check and how to avoid being scammed. In addition to the economic stimulus package, the US government delayed the income tax filing deadline to July 15. If you need more help, here's how to get financial relief.

Can you track your coronavirus stimulus check? Here's what we know right now
The first stimulus payments are expected to start arriving soon from the IRS, and you want to know when that'll happen. Here's what we can tell you.
[Image: cliffordcolby.jpg]
Clifford Colby
April 9, 2020 1:09 p.m. PT

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Coronavirus checks will start to go out in a couple weeks.
Angela Lang/CNET
If you meet the requirements, the first economic stimulus checks from the IRS are expected to go out within days, around the middle of April. For eligible US taxpayers anticipating a stimulus payment of up to $1,200, you may be wondering when your check will arrive, and if you can track your payment status with the IRS. Good questions. Here's so far what we know, with future updates as we learn more about the IRS and Treasury Department's plans.
These one-time payments are part of a $2 trillion 2020 coronavirus relief package intended to help you pay your expenses or help spur the flagging economy, as people lose their jobs and businesses shutter as a result of the coronavirus pandemic. It isn't clear without calculation how much you're entitled to receive. Your final allowance depends on a line in your tax form from either your 2018 or 2019 taxes. You can follow our guidelines or use a calculator to find out, but a little legwork is unavoidable.
Another wrinkle is when exactly you'll receive the check -- the amount will appear automatically either in your bank account or physical mailbox (more below). 
(And if you haven't submitted your taxes yet and need a refund soon, here are reasons you might want to file taxes by April 15, despite an automatic tax extension.)

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Watch this: Coronavirus stimulus checks: Everything you need to know
 2:06
Stimulus checks will begin to arrive in mid-April
Treasury Secretary Steven Mnuchin said the first stimulus payments will go out within two weeks -- around mid-April -- for those who have direct deposit set up with the IRS. 
The stimulus money will arrive either in your bank account if you set up direct deposit with the IRS for past refunds during tax season, or in the mail with your registered address. 
If you would like to set up direct deposit to receive your payment directly to your bank account, the IRS said it will have an online tool you can use to set up electronic payments by mid-April. 
While we know when to expect the first checks, we don't know how long it will take for the IRS to process a check for every entitled taxpayer, of which there could be more than a hundred million. 

CORONAVIRUS UPDATES


You don't need to sign up to receive a check
To receive the stimulus payment, you may need to file a tax return for 2018 or 2019 if you are normally required to. You can still do that now. Here's how.
Senior citizens, Social Security recipients, railroad retirees and other beneficiaries who typically are not required to file tax returns will not need to file one to receive a payment.
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Uplifting scenes of coronavirus solidarity around the world
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Can I check the status of my payment?
This isn't yet clear. For federal tax refunds, the IRS has a Get Refund Status page that lets you check the status of your refund after you supply your social security number, filing status and refund amount. 
As of now, the IRS does not have a similar tool that lets you track the status of your stimulus payment, and at this point we don't know if the agency will create an an online tracker.
The IRS said it does plan to mail a letter to a taxpayer's last known address within 15 days after sending the payment. The letter will contain information on when the payment was made and how to report it if the check wasn't received.
We'll be checking  for more details over the coming weeks, and will also update this story with new information if the IRS does create such a tool.
In the meantime, here's what you need to know about . For more on the stimulus checks, here's  and . Here's everything you need to know about .

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