The CARES Act authorized direct payments—called Economic Impact Payments—to American citizens to aid economic recovery in response to COVID-19, but many are wondering if they qualify for a stimulus payment, how much they will receive, and how they will receive the payment. For additional questions, click here.
Who is eligible for an Economic Impact Payment?
Individuals with a social security number who have filed income taxes for 2018 or 2019 are eligible, as well as some individuals who are not normally required to file income taxes, such as many social security recipients. The Department of Treasury is working with the Internal Revenue Service (IRS) to determine individuals’ eligibility for Economic Income...