The economic crisis created by the global coronavirus pandemic has left many people in the U.S. wondering if they could be eligible to receive a stimulus check. The government has created a massive stimulus package to help the economy and those affected by it get back on track.
In this article, we’ll discuss what a stimulus check is and how you can find out if you are eligible to receive one in your state.
Why Is a Stimulus Check Necessary?
The coronavirus pandemic has had an immense effect on the economy, leaving millions of individuals and businesses struggling to get by. The government has responded to this by offering a financial stimulus package that includes a $1,200 stimulus check to eligible individuals and up to $2,400 for those couples filing taxes jointly.
The stimulus check is designed to help people who are in financial difficulty due to the pandemic, as well as help stimulate the economy.
Who Is Eligible for a Stimulus Check?
To find out if you are eligible for a stimulus check, you will need to look at your individual financial circumstances and the requirements set forth by the government. Generally speaking, stimulus checks are for those who meet the following criteria:
• Individuals who made less than $99,000 in the 2019 tax year
• Married couples who made less than $198,000 in the 2019 tax year
• Head of household filers making up to $146,500
• Dependents, regardless of age
If you meet these requirements and made less than $75,000, you may be eligible to receive the full $1,200 stimulus check. If you made between $75,000 and $99,000, you may still receive a smaller stimulus check—a reduced amount based on your income. In addition, those couples filing jointly may receive up to $2,400, if they meet the requirements stated above.
Check If Your State Is Eligible?
The government has encouraged states to establish their own programs to ensure their citizens can receive the stimulus money they are eligible for. To find out if there is a special program in your state, you should contact your state government and ask. This may involve contacting your state Department of Revenue, local state representatives, or other state offices.
You can also review the U.S. Treasury website to see if there is a specific program for your state listed. And if there is not, you can still go through the standard filing process to receive your stimulus check.
Other Eligibility Criteria
In addition to income requirements, there are a few other criteria you should be aware of when it comes to eligibility for a stimulus check. Here are some of the determining factors:
• Legal status: You must be a U.S. citizen or legal resident to receive a stimulus check.
• Bank account: In order to receive your stimulus check, you must have an active bank account.
• Filed taxes: You must have filed taxes in either 2018 or 2019 to be eligible for a stimulus check.
• Bankruptcy: If you are in a current bankruptcy, you may not be eligible for a stimulus check.
Where Will I Receive My Stimulus Check?
If you are eligible for a stimulus check, the government will either mail you a paper check or send the money to your bank account. If you have recently filed taxes, then the money will typically be deposited into the bank account listed on your latest tax return.
If you do not receive your stimulus check within a month of filing, then you should contact your state’s Department of Revenue to confirm it was sent out.
What Can I Use My Stimulus Check For?
The Stimulus funds are intended to help individuals with their financial hardships due to the pandemic. The funds may be used to pay for basic needs, such as rent, groceries, utilities, and other essential bills. You cannot use the money for any type of luxury spending.
The government has set up a stimulus package to help the economy, and you may be eligible to receive a stimulus check from the government to help offset financial hardships due to the pandemic. To find out if you are eligible, you should review the income and other criteria outlined in this article. Further, you should contact your state government to see if there are any special programs offered to help you receive the funds. Finally, you should know what the funds can be used for and confirm receipt of the check if you do not receive it within a month of filing.