Here's everything you need to know about the coronavirus stimulus checks
Treasury Secretary Steve Mnuchin says payments will be available as soon as three weeks after the bill is passed. Photo: Sarah Silbiger/Getty Images We’re committed to keeping our readers informed.
Married couples are eligible for a check of $2,400, as long as adjusted gross income is less than $150,000 a year; reduced checks will be cut for married couples earning up to $198,000. Married couples will also receive $500 for every child under 17, while parents who file as a “head of household” — a tax status usually reserved for single parents — are eligible for the $500 per child under 17 as well, and can receive the $1,200 check if they earn less than $112,500 a year.
On Monday, the IRS released more information on how to access the payment: If people have not filed a 2019 return, their eligibility will be based upon information from 2018.Perhaps. On April 14, after some direct deposits had already been distributed, the American Prospect reported that “Congress did not exempt CARES Act payments from private debt collection” and that “banks would be first in line to grab the payments to offset a delinquent loan or past-due fees.
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