Most people are anxiously looking to find out how much money will be sent by the new Coronavirus CARES ACT.
Use the calculator here to find out the money you can expect to get in the next 4 weeks.
Calculate COVID relief amount for H1B, H4 spouse Kids with ITIN >
This article will discuss:
Where is Adjusted Gross Income?
Use 2020 AGI if it is available. If not, use the 2019 AGI.
Adjusted gross income for the year 2020 On Form 1040 will be on Line 8b on page 2:
Enter the number of Children you claimed on your tax return 1040 in either 2020 or 2019. Only claim the child if they have their own SSN.
If your child does not have SSN, then you would have not got ‘Child Tax Credit’ in 2020. You cannot claim this child for the Stimulus payment check either.
The highlighted dependent portion (in red) form above form 1040 on Page 1 will be blank for you if your child has ITIN but no SSN.
Many people file Married filing jointly return even if the spouse does not work. You can find what you selected in your 2020 return on Page 1 of your 1040 return form.
Possible options are Single, Married filling Jointly, Married filing Separately, Head of Household and Qualifying widower.
Only one payment will be sent and that too only once for each eligible American.
US citizens, green card holders, and legal work visa holders are included.
IRS will do a direct deposit in your bank account if they have it on file from your 2018 or 2019 tax return.
If they do not have your bank account details, they will mail a check to your last known address.
There is no income tax to be paid on the check that will be sent by the IRS as part of the Coronavirus Economy Stimulus bill.
You should receive a child allowance even if your total income was more than $99,000 and you filed as ‘single’.
There is no need to register to get COVID relief second check.
Your income tax return will be used to find your eligibility and send out a payment to you.
Once the bill is passed, the payment should be sent within 3 weeks as told by Trump. It may be delayed though.
People with ITIN and no SSN are not eligible for a payment check.
There is no maximum limit mentioned in the Senate’s version of the stimulus bill.
We have assumed it to be 6 though for the purpose of calculating your benefit amount.
Legal workers in the USA working using H1B or L visas are eligible for the payment under this act as they pay income taxes.
People living on social security with no other income are also included in the bill and will receive payment.
As long as you received an SSA-1099 form (the Social Security benefits statement), the government will send you a payment. You can expect the money in the same account that you get your Social Security payment.
Retirees and people on disability are also eligible for this one-time payment.
IRS will first look at your tax return filed in 2020 for the year 2019. If you have not filed a 2019 return yet, they will look for the year 2018.
If none is found, you may be out of luck.
The income level has been defined and it does reduce the amount of money that one can receive by 5% over and above a threshold.
The bill excludes non-resident aliens like B1, F1 visa holders from the benefit.
People who file income taxes, have SSN, and are legally working in the US on work-based visas are eligible.
Undocumented migrants filing income tax with ITIN are not eligible.
You are eligible to receive a check as long as your filing the income returns and can pass the IRS substantial presence test.
More Than One Payment in Future?
Trump has spoken about more payments in case they are required. At this time, the CARE ACT bill only talks about a single payment.
The economy is suffering with 3 million job losses and unemployment claims at all time high. Trump government will evaluate the situation in mid-April again.