14/04/2020
What to Know About the CARES Economic Relief Payment
As you may have heard, the United States 116th Congress approved, and President Trump signed into law, the CARES Act. This law includes a provision for eligible taxpayers who filed a tax return for either 2019 or 2018. They could receive a payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child.
1. How You'll Receive the Payment
If you qualify and filed a 2019 or 2018 tax return, your payment will be deposited directly into the same banking account used for tax filing purposes. If you have not yet filed your 2019 tax return, the account used for your 2018 tax filing will be used.
2. Note that payments are being distributed by the IRS in waves, so if someone you know has received theirs but you haven't yet, it is not a cause for concern.
