Stimulus checks began arriving this week. Who gets them and who doesn’t?

Stock Image by Gerd Altmann from Pixabay, St. George News

ST. GEORGE — Stimulus payments from the IRS began to arrive in the bank accounts of millions of Americans this week in an effort to stave off the economic impacts of the COVID-19 pandemic, which has shut down large parts of the nation’s economy.

The payments are part of the $2.1 trillion relief package passed by Congress in March that promises $1,200 to individuals who made up to $75,000 in 2019 or 2018. Married couples earning up to $150,000 will get $2,400 and an extra $500 for each dependent child under 17.

However, questions persist of just who is eligible for the stimulus checks and who isn’t.

The majority of the following outlining who is and is not eligible for the stimulus checks is courtesy of the IRS website.

According to the IRS, U.S. residents who are not a dependent of another taxpayer and who have a work-eligible Social Security number will receive $1,200 for individuals or head of household filers and $2,400 for a married couple filing jointly if the taxpayers’ adjusted gross income – or AGI – is less than or equal to the following:

  • $75,000 for individuals.
  • $112,500 for head of household filers.
  • $150,000 for married couples filing joint returns.

Taxpayers with the following AGI will receive a reduced payment:

  • $75,000 and $99,000 if their filing status was single or married filing separately.
  • 112,500 and $136,500 for head of household.
  • $150,000 and $198,000 if their filing status was married filing jointly.

Eligible retirees and recipients of Social Security, Railroad Retirement, disability or veterans’ benefits, as well as taxpayers who do not make enough money to normally have to file a tax return, will receive a payment. This also includes those who have no income, as well as those whose income comes entirely from certain benefit programs, such as Supplemental Security Income benefits.

Retirees who receive either Social Security retirement or Railroad Retirement benefits will also receive payments automatically.

The amount sent out by the IRS is based on taxes filed for 2019 – or 2018 if last year’s taxes have not been filed yet. Those who didn’t file for either year can go here for details on how to receive a stimulus payment.

The IRS also lists those who may not qualify for stimulus payments, including the following:

  • Those with an adjusted gross income greater than:
    • $99,000 if your filing status was single or married filing separately.
    • $136,500 for head of household.
    • $198,000 if your filing status was married filing jointly.
  • Those who can be claimed as a dependent on someone else’s return. For example, this would include a child, student or older dependent who can be claimed on a parent’s return.
  • Those without a valid Social Security number.
  • Nonresident aliens.
  • Those who filed Form 1040-NR or Form 1040NR-EZ, Form 1040-PR or Form 1040-SS for 2019.

The stimulus payments are being deposited directly into the bank accounts of taxpayers who previously supplied their banking information to the IRS. For those taxpayers for whom the IRS lacks bank account information, payments will be mailed to that taxpayer’s last known address.

Stock image | Photo by Kwangmoozaa/iStock/Getty Images Plus, St. George News

The IRS will also send payment receipts to a taxpayer’s last known address within 15 days of a payment being made. The letter will include information on how to report if a payment has not been received. If there are concerns surrounding the legitimacy of the letter, the IRS urges taxpayers to visit in order protect themselves against a possible scam.

Concerning scams, the IRS states that their representatives “will not call, text you, email you or contact you on social media asking for personal or bank account information – even related to the economic impact payments.”

Individuals who have not yet received a stimulus payment can check the “Get My Payment” page on the IRS website, which is expected to launch by the end of the week. The page will also allow taxpayers to input direct deposit information.

According to the Washington Post, 80 million American should receive stimulus checks by Wednesday. The majority those who have received the checks are using the money for basics like food, medications and gas. Others are using it to pay bills, the Post reports. And according to a report from St. George News, at least one person in Southern Utah is planning on donating their stimulus check to a charitable organization helping those most affected by the pandemic.

Copyright St. George News, LLC, 2020, all rights reserved.

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