The US bailout will hit the bank accounts of many Americans on Wednesday, the first official payment date, although some financial institutions have preferred to make cash available to people even before it is received by the government.
Not everyone eligible to pay will receive one Wednesday. Additional payment rounds will be made in the coming weeks, including for people who will receive a check or debit card in their mail. You can check your payment status with the Internal Revenue Service’s “Get My Payment” tool.
Fees start at $ 1,400 per person, including children: adults. To be eligible for a full $ 1,400, a single person must have an adjusted gross income of $ 75,000 or less. Adjusted gross income for household heads should be $ 112,500 or less, and for cohabiting couples that figure should be $ 150,000 or less. Partial payments are available to people who earn more but the money is lower.
Fees are calculated using the most up-to-date information in the IRS portfolio, which may be the 2019 tax return for those who have not yet applied for 2020.
For those who have a new right to pay based on their 2020 On income, but those who have not yet filed a tax return, the law allows the Treasury to continue payments until September. Those who do not receive payment during this period can claim what they owe when filing 2021 taxes.