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Where's My Coronavirus Crisis Relief Check?

A Good Good Friday to you.  And Happy Easter.  Now, where’s my check?  

That’s the question millions of Americans are asking this weekend as they fight to stay healthy physically…and financially.

You may recall the government acronym generator working overtime to create The Coronavirus Aid, Relief, and Economic Security Act, otherwise know as The CARES Act.

But all we really care about now is…where’s my check?

First, let’s recap eligibility to see if you qualify.  You’ve got to have a Social Security number and not be claimed as someone’s dependent.  You don’t have to call the IRS or sign up for anything…it’ll happen automatically if you qualify. 

Payments are based on your tax filing status and your Adjusted Gross Income or AGI.

If you’re single with AGI up to $75,000 you can expect a one-time payment of $1,200.

Married couples with AGI up to $150,000 will get a one-time payment of $2,400.

And for every child under age 17, you pick up an additional $500.

There’s a phase out range.  For every $100 dollars of AGI over your threshold, you’re docked $5.  For singles with AGI over $99,000 and couples over $198,000...you won’t get a payment.

When does the money start showing up?  It’s been widely reported that 60-million payments will go out the week of April 13th by direct deposit.  If the IRS has your bank info from your 2018 or 2019 return, look for the money there.

The week of May 4, the IRS will start sending out paper checks.  About 5-million checks will go out each week.  Apparently those will go out in reverse order based on your AGI.  Meaning those with lower incomes will get their checks first.

How to get your money sooner?  First, make sure you qualify.  If the IRS has your direct deposit info from your 2018 or 2019 return, you should be all set.

I’ve seen reports that the IRS is working on a portal where you can update direct deposit information.  Expected to be live in late April or early May.

In the meantime, if you haven’t filed your taxes for either 2018 or 2019, and you want to assure the IRS has your bank info, you better get on it.