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Coronavirus

Coronavirus Stimulus Checks April 2020

The IRS plans to begin sending out coronavirus stimulus check or “Economics impact payments” as soon as April 9, 2020.

They will be distributed automatically for people but for those who do not file tax return they will need to submit a simple tax return to receive economic payment.

For paper checks, the priority would be for lower-income individuals and families. IRS will start sending checks on April 24.

First checks will be mailed out for annual income levels of less than 10K.

Then next week it will be 10K-20K and so on.

Income level and PaymentsIndividualsMarried Couples
Payment Amount$1200$2400
Income levels for Full Payment$0 to $75K$0-$150K
Income levels for Partial Payments$75K-$99K$150K-$198K
Income level for no payments$99K+$198K+
  • $500 is added for each child.
  • Note that the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds.

IRS will use 2019 tax return information to calculate the payment and if you haven’t filed 2019 it will use 2018 tax return information.

Visit the IRS website for more information: https://www.irs.gov/coronavirus

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