Retirees, workers and people laid off from work all will get coronavirus-related stimulus checks as long as they have a Social Security number, filed tax returns in 2018 or 2019 and meet the income requirements.
The checks will be sent via direct deposit if the IRS has bank account information from previous tax filings. If the IRS doesn’t have that info, expect a check in the mail.
People should start receiving relief checks, or direct deposits, within three weeks, according to Treasury Secretary Steve Mnuchin.
Checks will be based on income levels. Individuals making $75,000 or less could be eligible for $1,200 plus $500 for minor children. Those who make above the threshold will see check amounts phased back accordingly. To see how much you’ll likely receive, check out Kiplinger’s stimulus check calculator.
