RELATED: Stimulus checks calculator: How much should you expect to get under the coronavirus stimulus bill passed by Congress
Folks are suddenly out of work, rent's due, bills are mounting. The bill seems to be arriving just in time. Nearly 85 percent of Americans will receive a cash payment of up to $1,200 per person or $2,400 for married couples. But there's a sliding scale.
Here's how it breaks down:
- Single taxpayers earning up to $75,000 will get the full $1,200 payment.
- Married couples earning up to $150,000 will receive $2,400
- Families also receive $500 per child
What if you earned more?
- For every $1,000 above the cap, subtract $50 from the check amount (until it goes down to zero)
- Singles earning over $99,000 and couples earning over $198,000 will receive nothing
But now as paychecks dwindle, everyone wants to know -- when will I get my check?
"We want to get cash to Americans right now, and by right now I mean the next two weeks," said Treasury Secretary Steve Mnuchin -- 10 days ago. Now, Secretary Mnuchin says checks will go out in about three weeks. Some say that's optimistic. It took three "months" to get checks out in 2008 during the "Great Recession."
RELATED: Coronavirus scams spreading fast, exploiting concerns for health and safety
However, with electronic tax filing, the process could be quicker.
And there's more relief. The bill provides $600 per week in unemployment benefits on top of the state payments. And more workers qualify, including part-timers and gig workers. Those federal benefits run through July.
You don't have to do anything to get your stimulus check, or a direct deposit. The government will calculate your benefit using your last tax filing. You might get money faster if you used direct deposit when you filed.
Using the guidelines spelled out in the bill, we're providing a calculator to help you figure out the amount that you're likely to receive.
Click here to launch the calculator in a new window.
Go here for the latest news, information and videos about the coronavirus.
RELATED STORIES & VIDEOS:
- Live updates about coronavirus outbreak in US, around the world
- Everything you need to know about the Bay Area's shelter-in-place order
- Here's how shelter in place, stay at home orders can slow spread of COVID-19
- Coronavirus California: Everything to know about stay at home order
- Bay Area cancelations, closures related to COVID-19
- Symptoms, prevention, and how to prepare for a COVID-19 outbreak in the US
- List of stores, companies closing due to coronavirus pandemic
- Canceled late fees, free services available amid COVID-19 crisis
- Here's how you can help during COVID-19 pandemic
- Coronavirus in CA: Get resources and information about COVID-19
- Bay Area school closures related to coronavirus pandemic
- How to maintain learning during school closures
- How coronavirus compares with the flu
- No masks but here are 100+ products that may help protect you against novel coronavirus germs
- Busting COVID-19 coronavirus myths: Facts from the Centers for Disease Control
- Here's a look at some of history's worst pandemics that have killed millions
- Asian community fighting racism, xenophobia, bigotry as world fights COVID-19