How To Know If You Qualify For A Stimulus Check

As it now stands the Coronavirus stimulus package is set to be in effect by the end of the weekend. The Senate has made it clear they are on board and will work through the weekend to finalize the proposal. The delay comes in the form of further debate regarding small business bailouts, but the details on the direct stimulus package to Americans and who will qualify for a stimulus check has been finalized.

What We Know:

Two rounds of direct payments to American taxpayers

First check on April 6th, second check on May 18th

Each check will be in the amount of $1,000

These checks will NOT be garnished, even if you owe state or federal tax

Those currently on Social Security are eligible to receive checks

Checks are to be claimed using an online portal and then will be mailed out

Who Qualifies For Stimulus Checks

To qualify for a stimulus check you must meet the following criteria:

You must be a tax paying American with a SSN over 18 years old

You must currently be employed (see below for exceptions)

You must not have earned more than $950,000 in taxable income for the year of 2019

If spouses file together only one needs to be employed for both to receive checks

There are some exceptions for unemployed Americans:

Exceptions For Unemployed Americans

There are a few exceptions to the employment stipulation to ensure contracted workers, recently laid-off workers, and the elderly are taken care of as well.

If you are currently unemployed you can still qualify for a stimulus check if:

You lost your job directly due to Coronavirus shutdowns

You made at least $2,500 in taxable income for 2019

You are on disability or receive Social Security

You are over 62 years old

Of course many people are arguing that this won’t be enough to stop the bleeding.

Millions of service workers have already lost their jobs and millions of others have lost thousands of dollars in retirement savings due to the crashing stock market.

The cash stimulus package will help but if Washington is going to impose a lock down on day-to-day operations then they must also work out a way to help the average American make it through the pandemic. All should be able to qualify for a stimulus check.