Memo – Coronavirus Stimulus Payments. When Should I Receive Mine?

Want my blog posts delivered to your inbox? Click here to subscribe

Quick Note: Was your stimulus debit card or check lost or stolen? Call this number 800-240-8100

When will you get your stimulus payment?

If you included your direct deposit information on your 2018 or 2019 federal tax return, the IRS already should have paid you through direct deposit.

Reminder, not everyone gets a stimulus check! There are income limits.

For those who filed federal tax returns for 2018 or 2019, the IRS will use the AGI listed on the most recent return to determine the amount of the stimulus payment. An individual with an AGI of up to $75,000 would receive the full $1,200 payment; a couple filing jointly with an AGI of up to $150,000 would receive the full $2,400 payment. A head-of-household filer with an AGI of up to $112,500 would receive the full $1,200 payment.

The amount of the stimulus payment is gradually reduced once AGI exceeds these limits. An individual (either single filer or married filing separately) with an AGI above $99,000 would not receive a stimulus payment. A couple filing jointly would not receive a stimulus payment once AGI tops $198,000. A head of household filer with an AGI above $136,500 would not receive a stimulus payment.

Where is my stimulus check?

The IRS will send checks starting with taxpayers who have the lowest annual adjusted gross income as reported on their 2018 or 2019 tax return, whichever is more recent.

Here is the planned weekly schedule. The IRS could change this schedule at any time.

Adjusted Gross Income Range and anticipated check mailing dates.

  • Less than $10,000: April 24
  • $10,001 – $20,000: May 1
  • $20,001 – $30,000: May 8
  • $30,001 – $40,000: May 15
  • $40,001 – $50,000: May 22
  • $50,001 – $60,000: May 29
  • $60,001 – $70,000: June 5
  • $70,001 – $80,000: June 12
  • $80,001 – $90,000: June 19
  • $90,001 – $100,000: June 26
  • $100,001 – $110,000: July 3
  • $110,001 – $120,000: July 10
  • $120,001 – $130,000: July 17
  • $130,001- $140,000: July 24
  • $140,001 – $150,000: July 31
  • $150,001 – $160,000: August 7
  • $160,001 – $170,000: August 14
  • $170,001 – $180,000: August 21
  • $180,001 – $190,000: August 28
  • $190,001 – $198,000: September 4
  • Remaining checks: September 11

Questions? Concerns? Call me on (732) 673-0510.

Click here to request a consultation or ask me a question.

Please reach out to me without hesitation with any tax, business or accounting question, and to schedule a consultation.

Tax Laws are complex.

It is very easy to make mistakes that can incur penalties.

Do you have a Tax, Accounting or Business Question?

Call Me Immediately. (732) 673-0510.

Is your CPA or Attorney

ignoring your Phone Calls and Emails?

Call Me Immediately. (732) 673-0510.

Remember,

“If We Aren’t Working For You, Then You Aren’t Working At Your Best”

Chris Whalen, CPA
(732) 673-0510
81 Oak Hill Road
Red Bank, NJ 07701
www.chriswhalencpa.com

cw-cpa-logoweb

#PPP #PPPloan #PPPloans #Lockdown #Covid2019 #CoronavirusLockdown #CoronavirusPandemic #COVIDー19 #StimulusChecks #Coronavirus #GovMurphy #VAR #Covid19 #smallbusinessowners #incometaxes #incometax #irs #SmallBusinessSaturday #smallbusinessowner #businessmarketing #businessowner #yearend #jerseyshore #cpa #taxplanning #Accounting #TedTalk 

Print Friendly, PDF & Email
2020-05-29T10:22:58-04:00

Share This Story, Choose Your Platform!

About the Author:

I’m Chris Whalen, CPA. For over thirty years I have been the owner and Managing Member of a Certified Public Accounting and Business Advisory firm providing a full range of income tax, accounting and advisory services for individuals and businesses. I am licensed in all states and serve clients throughout the country but extensively in Red Bank, Middletown, Rumson, Colts Neck, Holmdel, Monmouth County and Ocean County.
Go to Top