Stimulus Payments to Individuals Should Arrive in April

Staff report -- Families will soon be getting money from the federal government as part of the $2.2 trillion coronavirus stimulus package. The legislation was signed into law by President Trump last week and is intended to support Americans due to the shut down of much of the economy in order to slow the spread of COVID-19. The stimulus package provides for $1,200 payments to adults whose annual income is less than $75,000. Another $500 will be included for each child under 17 claimed on income taxes. For most people, the money will arrive by direct deposit in April. Checks that are mailed may take longer. Reduced amounts will go out to individuals making up to $99,000 a year, with the payment amount falling by $5 for every $100 in income above $75,000. Married couples are eligible for a $2,400 check as long as their adjusted gross income is under $150,000 a year. Reduced checks will go out to married couples who earn up to $198,000, with an additional $500 for every child under 17. People who file as “head of household” are eligible for the payment if they have an adjusted gross income up to $112,500 a year. Reduced amounts are available for heads of household earning up to $136,500 annually, with $500 for each child under 17. Tax payors who have already filed their 2019 tax return will receive their payment via the direct deposit information provided on the 2019 return, unless they elected to receive their refund by mail and in that case the payment will come by mail. If someone has not yet filed a 2019 tax return, the 2018 tax return information will be used to determine qualifications for the payment and to find bank or mailing details. People on Social Security are eligible to receive the relief payment as long as their total income does not exceed the limits above. Low-income Americans on Social Security do not need to file a tax return, and the government will send them a payment the usual way they get their Social Security payment. Retirees and people on disability are both eligible for the special payment. These payments are not taxable.       We need your support now more than ever -- as our small business community is hit, so is our advertising support -- if you are able to support local, independent news, now is the time to click here to contribute to The Fallon Post, so we can continue to bring you up-to-the-minute information. We are your non-profit (501c3) online news source for all things Fallon and appreciate all your support. Never miss the local news -- read more on The Fallon Post home page.