US Announced Stimulus Package: Who Are All Eligible?

US Announced Stimulus Package: Who Are All Eligible?

Amid the rapidly growing numbers of Coronavirus infected cases in the United States of America, the government has been implementing the measures needed to control the virus spread and also announced a stimulus package of $2 Trillion with senate approval.

This package is kind of a rescue fund meant to comfort the suffered and affected due to Coronavirus obstructing the work and businesses of all the taxpayers. The government will directly be depositing the amounts of $1200 to an individual taxpayer account and a couple who have been filing jointly will receive a $2400 and the same amount even if a person is the head of a household.

All the United States residents with adjusted gross income up to $75000 and ($150000 for married couples) are eligible for the stimulus package. They are also eligible for an additional $500 per child in the same package.

The payments will not be given to single tax filers earning more tha$99000 and also for the head of household with one child earning more than $146,500, or more than 198,000 for joint filers with no children.

All these package payments would be calculated from the earnings of taxpayers for the year 2018. These payments will be made if the taxpayers are paying the same with SSN, but not with individual taxpayer identification (ITIN). The stimulus package announced in 2008 too ignored the ITIN taxpayers.

The people who are unemployed would get an extra $600 per week for up to four months, along with state unemployment benefits to cover up 100 percent of lost wages.

According to the reports, the immigrants on work visas are also eligible to receive the stimulus package. The eligible amount will be calculated on annual income, where the recipient gets $1200 with $75000 earning and it gets lesser with increasing incomes up to $99,000 annual income.