Want to Get Your Stimulus Check?

Quick Answers

“How do I receive a stimulus check?” 

If you have filed a tax return for 2018 or 2019, you don’t need to do anything else. If you haven’t filed taxes for either year, the IRS recommends that you file back taxes for 2018.

“Is the check being mailed or sent direct deposit?”  

The check will be sent in the same method you received your IRS refund. If you are not set up for direct deposit, your check will be mailed using the address on your most recent tax return.

“What if I don’t have the same bank account now?”  

If you don’t have the same bank account as you used on your tax return, the deposit will not go through. If this happens, the IRS will mail your check to the address on your most recent tax return.

“Is the government using my 2018 or 2019 tax return?”  

The government will first look at your 2019 return to determine your eligibility. If you have not filed your 2019 return, they will look at your 2018 tax return.

“Is the amount I receive based off of my AGI or total income?” 

The amount you receive will be calculated based on your adjusted gross income, not your total income.

How will the government decide how much I receive?

According to the bill, the amount you will receive from the COVID-19 stimulus package is determined by your AGI and your tax filing status. The government will look at your 2019 tax return (the one you filed this year) to get this information. If you haven’t prepared this year’s tax return yet, they will use your 2018 AGI and filing status.

How much will I get from the government for my stimulus check?

For the quick answer, call us at 281-440-6279 or use the calculator here.

The stimulus plan outlines the following amounts based on your adjusted gross income and filing status:

*Each qualifying dependent under age 17 at the end of the tax year will be worth an additional $500. This amount will be added to the check of their legal guardian.

If your income exceeds the thresholds in the chart above, the amount will be reduced on a sliding scale and phase out at $99,000 for single filers, $198,000 for joint filers, and $136,500 for head of household filers.

The IRS and Department of Treasury have not yet announced how much taxpayers filing married filing separately will receive.

Who will receive a stimulus check? 

To be eligible for a stimulus payment from the US government you need to meet the following requirements:

You must have filed a tax return for tax year 2018, 2019 or have a 2019 Form SSA-1099, Social Security Benefit Statement, or Form RRB-1099, Social Security Equivalent Benefit Statement

• Your AGI in 2018 (or 2019) must be below the threshold for your filing status
• You must be a resident alien
• You must not be claimed as a dependent on someone else’s tax return*

If you didn’t have to file a 2018 tax return, you still have time to file a tax return for 2019 and get your stimulus check.

*Dependents who are claimed on someone else’s return will not receive their own payment. However, if they are under age 17 at the end of the tax year, their legal guardian will receive an additional $500 for them.

Where will my stimulus check be sent?

The money will either be deposited directly into your bank account or mailed to you via check. You can deposit or cash the check like normal.

If you are set up to receive your tax refund via direct deposit, the IRS will use that information from your 2019 return to deposit the money directly into your bank account.

If your bank account is closed, the IRS will mail your check.

If you are not set up to receive direct deposit but have filed your 2019 return with your correct address, the IRS will use this information to mail you a check.

If you have not filed a 2019 tax return, the IRS will look to your 2018 tax return to acquire the information necessary to send you your payment.

If you haven’t used direct deposit on your 2018 or 2019 tax return but wish to receive the stimulus payment directly in your bank account, the Department of Treasury will set up a new portal in the next few weeks. This online portal will allow you to send your current banking information to the IRS so you can receive your stimulus payment as soon as possible.

When will my stimulus check arrive?

The Department of Treasury Secretary Steven Mnuchin said he expects most people to receive their payment within three weeks. If you are set up to receive direct deposit from the IRS, you will receive your payment sooner than a mailed check.

If I don’t receive my payment within 3 weeks, how can I tell if it was misdirected?

You should receive a notice in the mail about 2-3 weeks after your payment has been disbursed. The notice will include how the payment was delivered (direct deposit or check) and where the payment was sent. If you still can’t locate your payment, contact the IRS using the information on the notice.

Do I have to file my state return to be eligible to receive a stimulus check?

No, you don’t have to file your state return to receive your stimulus check. However, if your state requires you to file a return because they have state income tax, you should still file.

Is my stimulus check taxable?

No, the stimulus checks are not taxable. However, if your 2020 income is much higher than your 2018 or 2019 income, you may be required to pay back a portion of the stimulus payment next year if your new income is above the threshold. This should be a small number of Americans.

What if I didn’t file my 2018 or 2019 taxes?

If you didn’t file in the past two years, the IRS recommends that you file your 2018 taxes as soon as possible. You can file your prior year return with Molen & Associates. Simply call us at 281-440-6279 to schedule an appointment to get started!

Will the government look at my 2018 return if I file my 2019 return today?

The government has not announced a cut-off date for looking at 2018 returns. What this means is, if you file your 2019 return today or soon, it is not yet clear whether if they will be looking at your 2018 return or your 2019 return (possibly even 2020).

Can I get a stimulus check if I get Social Security? 

 As long as your total AGI does not exceed the threshold, you will be eligible to receive the stimulus payment – even if you receive Social Security benefits.

If you are not required to file taxes but receive Social Security benefits, the government will be able to send you your check as long as you receive Form 1099-SSA.

Can I get a stimulus check if I’m on unemployment? 

Yes, if you are unemployed you will be eligible to receive a stimulus payment.

The bill also has plans to expand unemployment benefits for an additional four months.

More individuals, like self-employed workers and part time workers, may also be eligible to receive unemployment benefits when the bill passes.

Can I get a stimulus check if I’m self-employed?

Yes, as long as your AGI does not exceed the threshold you will be eligible to receive a stimulus payment. If you find yourself without work, you can also apply for unemployment during this time. You may also be eligible for an additional $600 weekly benefit provided by the government to self-employed workers who find themselves without work during the COVID-19 outbreak.

How do I return a stimulus check?

Millions of eligible individuals have already received their Economic Impact Payments. Some people, including those who received a payment for a deceased individual, may be unsure whether they should return a payment.

Here is additional information about returning an Economic Impact Payment.

How should an individual return an Economic Impact Payment?

Mail the payment to the IRS address – based on the state the person lives in – as indicated in the FAQs about repayments.

When returning a paper check that was not cashed or deposited taxpayers should:

• Write Void in the endorsement section on the back of the check.
• Mail the voided Treasury check immediately to the appropriate IRS location.
• Don’t staple, bend or paper clip the check.
• Include a brief explanation of why they return the check.

When returning a direct deposit or a paper check that was cashed or deposited taxpayers should:

• Mail a personal check, money order, etc., to the appropriate IRS location.
• Make the check or money order payable to U.S. Treasury and write 2020 EIP, and the taxpayer identification number, Social Security number or individual taxpayer identification number of the person whose name is on the check.
• Include a brief explanation of why they are returning the Economic Impact Payment.

Taxpayers should visit Economic Impact Payment Information Center on IRS.gov for information on how to return or request a replacement EIP debt card. 

When returning a payment for someone who has died:

A payment made to someone who died before they received the payment should be returned to the IRS. Return the entire payment unless it was made to joint filers and one spouse is still living. In that case, return half the payment, but not more than $1,200. 

If someone can’t deposit a check because it was issued to both spouses and one spouse has died, the individual should return the check. Once the IRS receives and processes the returned payment, an Economic Impact Payment will be reissued to the surviving spouse.

The IRS encourages people to share this information with family and friends.