How much stimulus money will I get and when will I get it?
Millions of Americans file for unemployment The $2 trillion stimulus bill passed in the Senate includes help for American families who are hurting financially due to the economic impact of the coronavirus. Most adults will receive $1,200 checks, plus $500 for each of their children. The massive relief package will funnel $290 billion in direct payments to individuals and families. The measure isn’t over the line yet as the bill must now go the House, but households are expected to get a check within weeks or months. That could provide a lifeline for the millions of Americans who have already been laid off or seen their income plunge as people hole up to avoid infection. U.S. sees worst unemployment numbers in over 50 years “Low- and middle-income households would receive about 68 percent of the payments,” noted Tax Policy Center senior fellow Howard Gleckman in a blog post. Here’s what to know about how the payments will work. Who will get a $1,200 check? The key factor is your household’s annual income, because the package is aimed at helping low- and moderate-income families. Some wealthier families might not receive a stimulus check.Individual taxpayers will get $1,200 each if their adjusted gross income (AGI) is less