You may be experiencing a coronavirus hardship and wondering what your stimulus check will be after the senate passed the CARES act. There are still many questions remaining on how long it will take to get the check, but you can estimate your stimulus payment below. Please note that the calculator does not account for rebates above the threshold. For these amounts, the rebates are reduced incrementally by 5% over the threshold below. So, if you’re single and your income is $76,000 then you would expect $1200 – ($1000*.05) = $1200 – $50 = $1150.00
Please note that the calculator is an estimate based on our interpretation of the CARES act. Actual results may vary.
Estimate Your Stimulus Payment
How does eligibility work for the stimulus check?
The amount is based on whether you are married, single or the head of household:
- Single individuals are eligible to receive up to $1,200
- Married couples are eligible to receive up to $2,400
- A parent with a dependent who is a child is eligible to receive up to $500 per child
There are limitations however. The amount of the rebate is reduced by 5% for funds that are greater than then the threshold above.
Who is not eligible for the stimulus check?
According to Section 6428. 2020 Recovery Rebates for Individuals, the individuals who are not eligible to receive the stimulus check are as follows:
- Any nonresident alien individual
- An estate or trust
- Any individual under Section 151 is allowable to another taxpayer. This is for a taxable year beginning in the calendar year in which the taxable year began for the individual.
When will I receive the stimulus check?
There is no concrete date set to receive the stimulus check, but Donald Trump and Treasury Secretary Steven Mnuchin are pushing to get the direct payment issued by April 6th according to CNN’s conversation with a White House official.
Mnuchin stated on Wednesday expected to begin issuing direct payments to taxpayers within three weeks of package becoming a law.
Is there a government website that I can check for updates about my coronavirus stimulus check?
Yes, there is a website that is designed to provide up to date information about the coronavirus stimulus check. Check the IRS government website for timely updates on next steps.