Answering Your Cash Assistance Questions
The CARES Act provides direct cash assistance to Americans at a time when many are struggling from the consequences of COVID-19. This assistance will come in the form of a one-time, non-taxable direct payment to individuals with a Social Security number – with the amount depending on income level and family size.
- I’ve heard I will get a check in the mail. How much will it be?
- How will the agencies determine eligibility?
- When and how can I expect to receive my benefit?
- Will Social Security beneficiaries receive this assistance? What about individuals receiving welfare benefits, like Supplemental Security Income (SSI)?
- Do college students qualify for this assistance?
- I’ve heard I will get a check in the mail. How much will it be?
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- Individuals making less than $75,000 and married couples making less than $150,000 are eligible for the full amount of $1,200 for individuals or $2,400 for couples. Those with children under the age of 17 will receive $500 for each child. If your income is over these amounts, the benefits are reduced at higher incomes.
- Your tax rebate amount will be reduced by $5 for each $100 your income exceeds the above income limits. That means for those without children, an individual will not receive any rebate if their income exceeds $99,000; and the same is true for couples with more than $198,000 of income.
- Please be on the lookout for misinformation or scams during this time, these agencies are using information they already have to distribute these funds. Please do not give out your personal information, including Social Security numbers, to callers.
- How will the agencies determine eligibility?
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- They will first check to see if you have 2019 tax return information available and use those figures to compare your income to the program’s threshold levels. If you did not yet file 2019 taxes, they will use your 2018 IRS data. If you do not meet the income threshold to file taxes, they will use your Social Security number to determine your current participation in public assistance programs and determine your income level.
- When and how can I expect to receive my benefit?
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- These benefits will begin to be distributed in the next 4-6 weeks. They will be delivered in the same method as your tax return or other federal benefits. If you have direct deposit set up, they will be delivered more quickly. If you receive a physical check in the mail, there will be a slight delay for printing and processing. Physical checks will be sent to the last address on record. These agencies will also be releasing more information and answers to frequently asked questions on their websites.
- Will Social Security beneficiaries receive this assistance? What about individuals receiving welfare benefits, like Supplemental Security Income (SSI)?
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- Yes. As long as a person has a valid Social Security number, they can receive the credit. There is no tax liability requirement and no earned income requirement.
- Do college students qualify for this assistance?
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- Only if you have worked and filed taxes independently. You’re ineligible if your parents claimed you as a dependent on their taxes.