Coronavirus Stimulus Check Calculator - How Much Will You Get?

The IRS says that could happen within three weeks, as of April 2, 2020, writing, "The distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people".

GettyThe coronavirus pandemic has led to the government stimulus package.

"Under pressure from activists around the country and our allies in Congress, the Trump Administration has reversed course", advocacy group Social Security Works said in a statement.

The Treasury's reversal comes after lawmakers including Senators Maggie Hassan of New Hampshire and Sherrod Brown of OH, both Democrats, expressed alarm over the guidance, saying in a letter on Wednesday to the IRS and Treasury that it will "place a significant burden on retired seniors and individuals who experience disabilities".

Anyone earning up to $75,000 in adjusted gross income and who has a Social Security number will receive a $1,200 payment. For heads of household with one child, the benefit starts to decline at $112,500 and falls to zero at $146,500. HoHs will also receive $500 for each child under 17. Direct deposits will go out first, while those who are receiving an actual check will wait longer. "We strongly urge you to ensure that economic stimulus payments are automatically sent to vulnerable seniors and individuals who experience disabilities, without these individuals needing to file a tax return".

But here is where it gets a little confusing.

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However, the Treasury Secretary recently announced: "The U.S. Department of the Treasury and the Internal Revenue Service today announced that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact Payment".

Additionally, they said, direct deposit payments will be swift.

According to the CNN report, a memo from the House Ways and Means Committee says that by April 13th, the IRS will make about 60 million payments for taxpayers who provided their direct deposit information through their 2018 or 2019 tax returns.

Since the IRS would not have information on these people's dependents, each person would receive $ 1,200 per person, with no additional amount for dependents at this time.

In the earlier guidance, the tax agency noted that people who don't typically file a tax return "will need to file a simple tax return" to get their check, which impacts millions of seniors, low-income taxpayers, some veterans and individuals with disabilities. Anyone filing should include direct deposit banking information.

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