Probing the stimulus package; not all Americans will get coronavirus checks after all

WHAT YOU NEED TO KNOW:

• Many Americans are reportedly not to receive the coronavirus relief packages due to some conditions enclosed on the bill.
• Cases such as young adults, some disabled persons, and some parents, to name a few, may not be qualified under the bill.
• The IRS, through its website, has listed the conditions surrounding various cases for COVID-19 payment eligibility.

Millions of Americans will not be receiving the coronavirus cash assistance. Despite the $2 trillion stimulus bill approved last month, which includes checks payments of no less than $1,200, still, a lot of Americans are not qualified.

The stimuli incentive does not cover the majority of college kids, migrants who do not have Social Security numbers, and some persons with disabilities.

These lapses, however, are not intentional since Congress rushed to pass the legislation to accelerate the distribution to Americans; thus,  lawmakers didn’t have the time to go through all the details.

Both chambers agreed to make the tax returns data as the primary basis. However, the majority of Americans also need help, and some industries are more affected than others.

The IRS will start releasing the checks around mid-April for those who are qualified.

Meanwhile, IRS guidelines indicate that if someone listed you as their dependent on their taxes, you would not be receiving payments. And while parents are to receive an additional $500 per kid, it will only cover young people under 17 years of age.

Although disabled people who get assistance from the Social Security Administration or Veterans Affairs are to get payments, they will not be eligible if they are dependents of their parents or families on their taxes.

Furthermore, seniors receiving help from Social Security or fall below the income cap will receive payments. However,  the dependent declaration policy also applies to their case.

Immigrants that have valid Social Security numbers are also eligible even if they are not yet U.S citizens. So, immigrants who are green cardholders will also get cash packages.

Additionally, the $500 per child assistance will only be given based on taxes that were filed by 2019. Consequently, parents who had children born early this year will have to wait out next year as taxes covering them are yet to be filed this year.

For high-salaried workers who lost their jobs, they may not get their stimuli package now, but it will be given as a tax credit the following year, that is, if the system recovers.

The condition will be applicable since incomes who are covered by the payment include those who earned no less than $75,000 last year and were limited at $98,000 or more.

Detailed conditions are also laid out for parents who are not yet married but have both custody over their child. The bill also did not make it easy for parents who got divorced after filing taxes in 2019. 

Individuals, who also had backlogs in child support will also have a difficult time in getting the $500 extra payment per kid.

Individuals who fall under these categories are advised to check with the IRS website to know more about their coronavirus payment qualification.  

Source: AOL