The Senate unanimously passed a massive $2.2 trillion coronavirus emergency rescue package late Wednesday, and among its many tools to bolster the economy amid the COIVD-19 pandemic is $290 billion set aside for direct payments to most Americans. The Post article also includes a stimulus payment calculator. "The main people excluded from receiving a payment are: the wealthy, nonresident aliens (i.e. foreigners who do not hold a green card), and "dependents" who can be claimed on someone else's tax return.", the Post reports. Early May is seemingly more realistic than that. The bill still must go through the House - a vote to pass it is expected Friday - and be signed into law by the president.
We'll know more as soon as the bill hits Trump's desk. Under this plan, lower and middle-income Americans would receive two-thirds of these benefits said Howard Gleckman, a senior fellow at the Tax Policy Center. For those who have not yet filed their taxes this year, it will be based on 2018 returns. "We're looking to get a lot more information and we have procedures to do that".
If you're a single USA resident and your adjusted gross income is $75,000 or less, you will get a $1,200 check from the US government. Married couples also will receive an additional $500 for every child. Reduced checks on a sliding scale are available for heads of household earning up to $136,500 annually. I've already been working extra hard this year to try to afford the rebuild, and if I can scrape the money together, I'd love to build a stroker engine while I'm at it by swapping out the 3S-GTE's block and crank for those from the 2.2-liter 5S-FE found in the 1991-1996 Toyota Camry.
The income levels are based on tax returns for 2019. It is possible that someone may have to pay back some of the money if his or her income this year turns out to be significantly more than it was in 2019 or 2018. With these cases, the government will access their data through the Social Security Administration to determine how much money they will receive.