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All You Wanted To Know About Those Tax Stimulus Checks But Were Afraid To Ask

Donald Trump,Economy And Jobs,Economic Policy,Coronavirus,Federal Budget,Taxes

From the Center
Analysis

COVID-19 continues to impact the United States, the federal government is taking action to ease the burden on taxpayers. Most recently, the Senate passed a massive stimulus package (the House has yet to vote but is expected to follow suit). A key feature of the stimulus is individual checks.

As with anything tax-related, there’s a little bit of confusion. To help you sort it out, here are a few questions and answers:

When will I get my check? Checks are supposed to be produced “as rapidly as possible,” but it’s been suggested that could take up to two months. If you use direct deposit, it will be faster.

How big will my check be? Checks will be $1,200 per adult - or $2,400 for married couples filing jointly - and an additional $500 per child.

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