Although President Joe Biden had planned to sign his $1.9 trillion COVID relief plan Friday, it arrived on his desk a day early, so he signed it Thursday.
Also Thursday, the White House launched the American Rescue Plan website, where you can check to see how the bill will help you, how the checks will be distributed and more.
Here’s what Georgians can expect from the plan, which includes $1,400 direct payment stimulus checks.
How much will you get?
Individuals making up to $75,000 a year will get $1,400.
Couples who file jointly and make up to $150,000 will get $2,800.
Each dependent in a household will increase the check by $1,400.
So, a family of four will receive $5,600. Because of the expanded child tax credit, they will also get $2,600 more in tax credits than before.
If you’ve already filed your 2020 taxes, your stimulus amount will be based on that income. If not, it will be based on your 2019 tax return.
“That’s $8,200 more in the pockets of this family as they try to weather this storm,” the White House wrote on the site.
When and how will you get your check?
White House press secretary Jen Psaki said Thursday some people will see their money this weekend, and “payments to eligible Americans will continue throughout the course of the next several weeks.”
If you received your income tax return or previous stimulus checks via direct deposit, that’s how you’ll receive this payment.
“The Treasury and IRS are working to ensure that we will be able to start getting payments out this month. And the IRS and Bureau of the Fiscal Service are building on lessons learned from previous rounds of payments to increase the number of households that will get electronic payments, which are substantially faster than checks,” the White House wrote.
If you do not have direct deposit on file with the IRS, however, a check or prepaid debit card will be mailed to you.
About the Author
