In the last few days, you’ve probably seen or heard friends telling you that they’ve received their coronavirus money from the government.
And you’re also probably thinking: where’s my money and how do I get it? We all have questions. Here are some answers.
Most Americans will receive coronavirus money from the government. Here’s who will qualify for the full $1,200:
Anyone with children under 17 years old will also receive an additional $500 per child. Good news: you don’t need to do anything to request this money.
It is important to note that these income guidelines are based on your 2019 tax return unless you haven’t yet filed yet. In that case, the IRS will use your 2018 tax return.
Some may also be eligible, but may not receive the full $1,200. Here are a few things that could reduce your check amount:
If you meet any of these qualifications and want to see how much you can expect to receive, try this Coronavirus calculator.
Though the government started sending out payments on April 11, don’t panic if you haven’t seen your money appear in your bank account just yet. If you’ve set up direct deposit with the IRS previously, you should receive your coronavirus money this week.
If you don’t have direct deposit set up, your money will be sent by mail. This could mean that there might be a significant delay in receiving it.
If you want to find out when you can expect to get your coronavirus money, try this web tool from the IRS. Once there:
click the Get My Payment button to check on the status of your coronavirus money
On the next page, which asks you about 'authorized use', accept by clicking OK
You will need to enter your
**Success! **On the next page, the portal will show your payment status.
Follow the steps in the IRS’s web tool to update your bank account number (and routing number) to have your money deposited directly into your bank account.
In short, no. The tax filing deadline for 2019 has been pushed forward to July 15, and you can still file your 2018 taxes. Here’s how.
Yes. If your income was less than $12,200 ($24,400 for married couples) in 2019 and you were not required to file federal income tax returns, you must fill out a form found here. The form asks for checking account information or you will get a paper check in the mail instead.
Yes. If you don’t file taxes because you are currently retired or receiving Social Security Insurance (SSI) payments, the government will use your Social Security Number to send out payments.
No. If you are behind on child support payments, your coronavirus money will be sent to your state and then that money will be sent to the person owed the child support.
Also, if you are married filing jointly and your partner is late on child support payments your coronavirus money may be withheld.