What is it and which actions do I need to take?
This is the long spoken “free money” the government is giving for Americans. Not everyone will receive it, below a quick snapshot to see if you are eligible or not:
The “Stimulus Check” is an “early tax refund” the government is giving Americans to help through this epidemic. It’s supposed to keep flushing cash to the economy.
Researchers believe that most of the recipients of this check will use the funds to pay utility bills and to buy groceries. Regardless of what you do with this, there’s no strings attached: You can use this funds as you please.
Bonus: This money is NOT Taxable.
Families with children 16 years old or younger are eligible to an extra $500 per child. If you are claimed as a dependent in someone’s taxes, you’re not eligible for this benefit. The government is using your information from your latest tax return – 2018 or 2019.
If you file your taxes with Turbo Tax, HR Block or any other online software, the government, most likely, does not have your bank information to deposit the check.
On April 15, the IRS released the page “GET MY PAYMENT“, which will help you know where your money is at, confirm certain information, or add your banking information for the payment.
The information is updated once a day, so allow 24-48 hours to see updates.
Still have questions? Let me know on the comments below.