There’s been a lot of “buzz” around the stimulus checks, which are meant to help send a jolt to an economy strained by unemployment caused by the coronavirus (COVID-19) pandemic. The historic $2.2 trillion economic stimulus package is going to help people who’ve been directly impacted by COVID-19, but it’s not going to help everyone.
Here are the nuts and bolts of the plan: Those individuals who earn up to $75,000 a year will receive a $1,200 payment, while couples who earn up to $150,000 annually will receive $2,400. And for parents with children in the home, they can receive up to $500 for each child who is under the age of 17.
Groups Not Eligible for Stimulus Checks
While 9 out of 10 U.S. households should benefit from the stimulus checks, not everyone will make the cut. Here, we look at some of the groups that won’t receive a stimulus check.
- Parents who owe back child support may have their stimulus checks reduced or eliminated altogether depending on how much they owe.
- If a taxpayer does not owe child support but they’re married to someone who does, they may not receive a stimulus check unless they file as an injured spouse.
- If a college student is 17 or older and claimed as a dependent, they cannot receive a stimulus payment for themselves.
- Under the CARES Act, parents can receive $500 per child under the age of 17, but this does not apply to adult dependents, such as senior parents being supported by their adult children.
- If an adult child is disabled and claimed as a dependent, they are not entitled to the $1,200 stimulus check.
- If a senior citizen receives Social Security, they are eligible for the stimulus check, but not if they live with their relatives and are claimed as a dependent.
If you have further questions, we recommend reading, "Cares Act: Recovery Check FAQ” by Sen. Chuck Grassley.