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LEXINGTON, Ky. (WKYT) – As Congress continues to debate more COVID-19 relief for Americans, some people are already receiving a stimulus check.
The latest round of stimulus checks costs up to $ 600 per person. Those who are eligible include:
– Married couples earning less than $ 174,000
– Singles earning less than $ 87,000
– Dependent children under 17
– Beneficiaries of social security and beneficiaries of the VA
One of our viewers asked, “When and how will I get my check?” Financial advisor Rob de Lassio says IRS is sending payments now.
“Obviously, if you file electronically, and you receive your tax returns electronically, they will send the funds electronically. If you’re mailing and receiving checks, yours will take a little longer, ”said de Lassio.
Chailee Sizemore received a check for $ 600 for herself and $ 600 for her daughter, Lee Ann.
“It made me feel good because now I can pay my electric bill,” Sizemore said.
Payments are based on 2019 tax returns. If your financial situation has changed this year, you may still receive the stimulus.
One of our viewers asked if she would get a stimulus check if she had a baby this year. Chartered Accountant Dana Global says yes.
“When you file your tax return for 2020, that person will put the new baby on the tax return. They will actually receive that stimulus money as a credit on their tax return, ”said Globally.
Experts say the sooner you file your taxes for 2020, the better it will be and that taxes will not be taken from the stimulus checks.
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