Stimulus Checks - CARES ACT

Stimulus Checks for Individuals and Joint Taxpayers

Stimulus checks — up to $1,200 for individuals, $2,400 for
joint taxpayers and an additional $500 for each qualifying child — will be
based on information from your most recent tax filings, either 2019 or 2018 if
you have not yet filed this season.

The first step you should take right now is to file your
2019 tax return, if you have not already. And, if you are getting a tax refund,
choose to receive that refund through direct deposit. This will ensure that the
IRS has the most current tax filing and direct deposit information for you,
which they will use to determine individual stimulus check amounts.

The Stimulus Checks should be out in the next 3 weeks for direct deposit. If the IRS does not have your direct deposit information you will be able to go to IRS.GOV to provide your information. Please make sure you are on the correct site so that you do not get scammed.

Recovery Rebate

According to the Tax Policy Center, approximately 90% of
Americans will be eligible to receive full or partial payments through the
CARES Act.

As your AGI increases, the stimulus amount you get will go
down. The stimulus check rebate completely phases out at $99,000 for single
taxpayers, $146,500 for those filing as Head of Household and $198,000 for
joint filers with no kids.

The stimulus check will be paid this year based on
information from your most recent tax return and will be reconciled in tax year
2020 to ensure you received the correct rebate amount.

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know