The Coronavirus Stimulus checks are designed to provide cash aid to most Americans and revive the economy which has been affected by coronavirus crisis.
The recovery package also includes loans, grants and tax breaks for business also reeling from the economic fallout caused by the pandemic. Americans can get quick access through the New launched IRS website and drop the information needed to collect the fund.
According to the information we gathered, under the new stimulus law, individuals with an adjusted gross income of $75,000 or less are eligible for a one-time payment of up to $1,200 ($2,400 for joint tax returns) and $500 for each qualifying child. Those with little or no tax liability also will get $1,200 ($2,400 for joint returns).
Report has it that over 30Million Americans have received the Coronavirus aid payment. Some 50 million to 70 million Americans are expected to get their checks via direct deposit by April 15, according to the Treasury Department.
Those who haven’t provided the IRS With their bank account information will get a paper check in the mail, which take longer, though the department has launched a portal on its website that allows the fast process of getting the aid capital. Check it out here