Still Waiting on a Stimulus Check?
June 25th, 2020
A recent report by the Center on Budget and Policy Priorities (CBPP) found that an estimated 12 million Americans have not received a CARES Act stimulus check, but that they are eligible for one. If you haven’t received a stimulus check, read the important information below!
The CARES Act was passed in March, and one major piece of the bill was direct checks to individuals. Based on the bill, you are eligible for the full payment if:
- You have no income OR your income is under $75,000 (single, or married filing separately), $112,500 (head of household) or $150,000 (married filing jointly).
- Someone else cannot claim you as a dependent on their tax return.
- You and your spouse, if filing jointly, each have a valid Social Security number (for military couples, only one is needed).
- You have a valid Social Security Number.
The full amount of the stimulus check is $1,200 per individual adult ($2,400 for married couples who filed together), plus an additional $500 per dependent child under the age of 17 who has an SSN or Adoption Identification Number.
Many have already received their stimulus checks through automatic deposit via the IRS. However, if you have not received a check yet, visit the IRS website and select “Get My Payment”. This is a secure tool used to verify your tax filing and bank account information.
If you are required to file taxes for 2019, you’ll need to complete that before you can receive the stimulus check. You have until July 15th, 2020 to file your 2019 taxes.
You are not required to file taxes if you earned less than $12,200 (or $24,400 for married couple) in 2019. If this describes your situation in 2019, you are still eligible to receive a stimulus check. Visit the IRS non-filer information website and complete the online form by October 15th so the IRS knows where to send your check.
For additional information on the CARES Act stimulus checks, visit this helpful Q&A website. Our trained team of financial coaches is ready to help with individual questions as well. Call our coaching hotline at 503.622.9167 Monday – Friday, 12 – 6 pm, to get individual guidance.