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Millions of Americans who expect to
receive a $1,200 stimulus check from the federal government could start to see the payouts
arriving as early as next week.
Not everyone is getting a $1,200 coronavirus stimulus check. Here's who will be left out.
But many Americans won’t get a check
at all.
Not everyone qualifies for one of
the payments, which will be distributed under a new federal law that aims to give Americans a quick cash infusion and help
the economy recover from the devastation wreaked by the coronavirus pandemic.
Many students aren’t eligible for a
stimulus check. Neither are some elderly and disabled people. Immigrants
who don’t have a Social Security number won’t get a check either. Some new
parents and others may have to wait until next year to get part of their
payouts.
“The intent (of the law) is to get
the money out as fast as you can, but when you do that, you can’t possibly
anticipate every possible situation,” said Howard Gleckman, a senior fellow at
the Urban Institute’s Tax Policy Center. “So there are going to people who fall
through the cracks and are going to have to wait until next year to get their
money.”
Here's a look at who will be left
out when the checks start arriving:
High-wage
earners
If you earn more than $99,000 a
year, sorry, you’re out of luck.
Under the new law, individuals with
an adjusted gross income of $75,000 or less are eligible for a one-time payment
of up to $1,200 ($2,400 for joint tax returns) and $500 for each qualifying
child. Those with little or no tax liability also will get $1,200 ($2,400 for
joint returns).
But the payments start to phase out
for Americans who earn more than $75,000, or $150,000 for a joint return. The
payments phase out completely for single filers with incomes exceeding $99,000,
$136,500 for head of household filers with one child and $198,000 for joint
filers with no children.
The payments will be sent via direct
deposit to people who already have provided the Internal Revenue Service with their bank account information. Those who haven’t will
receive a check in the mail.
Students
Students age 17 or older don’t
qualify for a stimulus check if their parents or guardians claim them as a
dependent. Their parents won’t get the $500 per child payment either. That
applies only to children ages 16 and younger.
The result is that many high school
juniors and seniors won’t get a check and their parents won’t get the $500
additional stimulus credit.
“This is a group that is left out of
receiving any benefit from the rebates,” said Garrett Watson, an economist at
the Tax Foundation, a Washington-based think tank.
Students who have a job, aren’t
claimed as a dependent by their parents or guardians, and meet the income
threshold and other eligibility requirements qualify for a check if they filed
for taxes in 2018 or 2019, Watson said.
Elderly
and disabled people
Most senior citizens will qualify
for a check. The exception: Those claimed as dependents by their children or
someone else.
Disabled adults are eligible for a
stimulus check as long as no one else claims them as a dependent. If so, they
don’t qualify. For example, if a disabled adult lives at home with his or her
parents and the parents claim him or her as a dependent on their income taxes,
the disabled adult won’t receive a check.
Possible delays: IRS' antiquated technology could
delay delivery of $1,200 coronavirus stimulus checks, experts warn
Some
immigrants
Immigrants qualify for a stimulus
check if they meet the eligibility criteria and have a valid Social Security
number.
In other words, immigrants with
green cards or H-1B and H-2A work visas are eligible for a check. Non-resident
aliens, temporary workers and immigrants in the country illegally are not.
Newborn
babies
Parents of babies born in 2020 will
have to wait until next year to receive their $500 payment for the child.
The child payment is based upon
income taxes filed in either 2018 or 2019. Parents of children born this year
will be eligible for the child payment when they file their taxes next year, as
long as the meet the other eligibility requirements, Gleckman said.
=================================================================
Unemployed
high wage earners part 2
People who earned more than $99,000
last year but who are unemployed in 2020 won’t be eligible for a check this
year.
“This IRS will use the 2019 tax
return to calculate how much this individual will receive for a rebate now, so
they would not be eligible for a rebate in the coming weeks,” Watson said.
However, people who fall into this
category will be eligible for a rebate on their 2020 tax returns when they file
next spring if they earn below the phaseout limits this year.
“Unfortunately, there isn’t a method
to get a rebate ahead of that time for taxpayers who made high incomes in the
year they last filed taxes for but are earning lower incomes now,” Watson said.
More checks?: Trump weighs more stimulus checks
for Americans. What else could be in next coronavirus aid package?
Low-income
people who don’t file taxes
Low-income people who haven’t filed
taxes in the past two years are eligible for a check, but millions of them
won’t get one unless they take an extra step.
If you receive Social Security
benefits, you’re all set. Social Security recipients will automatically get a
stimulus check. The IRS will use Social Security data to determine how much you
receive and where it will be sent.
But for others who haven't filed
taxes in the past two years, it's a different story.
Individuals aren’t required to file
taxes if they make less than $12,000 a year. The tax-preparation company
TurboTax estimates that 10 million Americans fall into that category, and they
include some low-income individuals, Supplemental Security Income recipients
and Veterans Affairs beneficiaries.
Those individuals are eligible for a
stimulus check, but without their income tax returns, it will be harder for the
IRS to verify their income, calculate their payout and know where to send it.
The IRS has set up a web portal that will allow them to register for a stimulus. Those who
don’t normally file a tax return can visit IRS.gov and look for “Non-Filers: Enter Payment Info Here.”
There, they can provide information including their Social Security
number, name, address, and dependents. The IRS will use
that information to confirm their eligibility and send them a
stimulus payment.
The IRS also has partnered with
TurboTax to simplify the process for individuals who haven’t filed in the past
two years. TurboTax has set up a web page where they can answer a few questions
and then choose to receive their payment via direct deposit or check. The
service is free.
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