- March 27, 2020
- Coronavirus
- Comments : 0
Get Your U.S. Stimulus Payment!
1. The Stimulus amount
2. Who can claim it^
3. How to get the money
4. What to do if you haven’t filed
5. How to stay informed of updates.
1. The amount
- Based on information released so far, the amount of the Stimulus payment is US$1,200 per adult and US$500 per child.
2. Who can claim?
- There nothing to say that American citizens living abroad cannot claim the Stimulus payment and you should be fully entitled as long as you meet the criteria.
- Previous Stimulus payments like the one issued in 2008 were issued to eligible Americans abroad.
- There is an income limit of US$75,000 to claim the full payment.
- The $1,200 reduces by $50 for every $1,000 earned over $75,000 (Eg. $80,000 income would provide a Stimulus payment of $950)
- If you earned over $99,000 you won’t be entitled to any amount.
- Your income is based on your filed 2018 tax return unless you’ve already filed your 2019 tax return.
3. How to get the money
- If you have a US checking account and the IRS has your details on file, they will direct deposit the funds.
- If you don’t have a US checking account on file, they will send a check, even overseas.
- The IRS will not deposit payments into a non-US bank account.
4a. I haven’t filed a tax return for at least 3 years
- Using the IRS Tax Amnesty program to catch up is ideal, but you need to qualify.
- Contact us if you have any questions
4b. I haven’t filed a tax return in 2018 or 2019
- If you only need to file for 2018 or 2019, then go ahead and file ASAP.
- If you’d like us to do that for you, simply contact us!
- Make sure you provide your current address on your tax return so you can receive your check.
- Provide US Checking Account details if you have them.
5. Keeping informed about the Stimulus payments
- Check back on our blog for more updates