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Stimulus Payments

Frequently asked questions:

*Last updated 4/17/2020

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  • Will I receive a stimulus check?

    You will receive a stimulus check if you submitted a 2019 tax return as an independent and meet the income requirements. If you are an independent and you were not required to file your tax return for 2019 or 2018 because your gross income was under $12,200 ($24,400 for married couples), you qualify for the stimulus check. For non-filers, you can submit your payment information to the IRS using this link:

    https://www.freefilefillableforms.com/#/fd/EconomicImpactPayment

     

    You will not receive a stimulus check if you were claimed as a dependent on a family member’s tax return in 2019. You will not receive a stimulus check if you are a nonresident alien, such as an international student or an undocumented immigrant, even if you filed a tax return.

     

    If you or your family member has not yet filed their 2019 tax return, receipt of a stimulus payment will depend upon the 2018 tax return. If you or your family member has not filed a tax return in either 2019 or 2018, then you should file your tax return ASAP in order to receive a stimulus payment. Follow the chart below to see if you qualify.

     

    Note: Lawmakers are attempting to rework the bill to allow payments to dependents that are 17 years or older; thus, college students who are dependents can then receive the benefit.

  • How much could I receive for the stimulus check and how many checks will I receive?

    If you filed under single status and earned $75,000 or less, as stated on your last filed tax return, you will receive a one-time payment of $1,200. If you filed under married status and earned $150,000 or less, you will receive $2,400. If you filed under head of household status and earned $112,500 or less, you will receive $1,200. For any filing status, you will receive an additional $500 for each child under the age of 17 you claimed as a dependent.

     

    If you earn more than $75,000 as a single, $150,000 as married, or $112,500 as head of household, you will receive less depending on how much you make. You can determine how much you qualify for in the following link. https://www.hrblock.com/coronavirus-tax-impact/calculator/

  • How will I receive the stimulus check?

    The IRS will automatically disperse the payment to those eligible. Checks will be dispersed either via direct deposit or mail checks. If you received your tax return via direct deposit, the IRS will deposit the stimulus check into the same bank account. If your bank information is not registered with the IRS website, you will be mailed a check.

     

    Currently, the IRS is attempting to add a web tool for filers who did not request a direct deposit for their tax return. The website is currently under construction, but when available, the web tool will be displayed in the following link: https://www.irs.gov/coronavirus/economic-impact-payments

  • When will I receive the stimulus check?

    Secretary of the Treasury, Steven Mnuchin, states direct deposit payments are anticipated to be released mid-April. The IRS will start mailing physical checks on April 24, but some physical checks may not arrive until September.


Stimulus Payments References:

 

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* The College of Business Administration ("CoBA") is providing links to these resources as a public service to students. Reference to any specific resource or entity does not constitute an endorsement or recommendation by CoBA. CoBA assumes no responsibility or liability for any errors or omissions; the information contained is provided on an "as is" basis with no guarantees of completeness, accuracy, usefulness or timeliness.