What we know so far about the Stimulus 2020 (updated 05/11/2020)
We will be updating this post daily as information regarding the 2020 Stimulus Package becomes available.
05/11/2020 The IRS have answered the two most commonly asked questions regarding the Economic Stimulus here.
05/08/2020 Congress and the House considering second round of Economic Stimulus Checks. Story here.
04/10/2020 IRS announce Stimulus Deposits to begin next week for those who filed their 2018 and/or 2019 tax returns. Full story.
04/07/2020 Estimate Your Stimulus Check here.
04/05/2020 Stimulus Check Deposit Schedule here.
03/29/2020 Treasury Secretary explains how you can get your Stimulus Check faster here.
03/26/2020 We asked six questions about the 2020 Stimulus Plan. First two, how and when will I receive my stimulus check? Information here.
03/25/2020 The White House and the Senate reach historic 2020 stimulus deal to jumpstart the economy. Story here.
03/19/2020 Trump wants direct payments of $1,000 for adults, $500 for kids in coronavirus stimulus bill, Mnuchin says
“The first one would be $1,000 per person, $500 per child,” Mnuchin said. “So for a family of four, that’s a $3,000 payment.”
President Donald Trump has already approved multiple emergency aid packages aimed at slowing the spread of the virus and helping Americans who could lose their jobs or otherwise be affected. An increasing number of cities and states have banned large gatherings of people and have forced many businesses to limit their services, sparking fears that mass unemployment could follow.
Earlier this month, the president signed into law an $8.3 billion bill that sailed through Congress with near-unanimous support. On Wednesday, Trump signed an additional $100 billion package that includes provisions for emergency paid leave for workers as well as free testing for the deadly virus.
- Treasury Secretary Steven Mnuchin on Thursday laid out details of the Trump administration’s plan to send Americans relief money.
- The White House is talking to congressional leaders of both parties about a massive stimulus package to blunt the impact of the coronavirus crisis.
- The proposal includes sending payments directly to Americans totaling $500 billion, broken up into two tranches.
- “The first one would be $1,000 per person, $500 per child,” Mnuchin said. “So for a family of four, that’s a $3,000 payment.”
We will continue to updated this story as news is released.
More on the impact of Coronavirus 2020 on your tax refund here.
Stimulus Checks 2020
When would 2020 Stimulus checks arrive?
“As soon as Congress passes this, we will get this out in three weeks, and then six weeks later, if the president still has a national emergency, we’ll deliver another $3,000,” Mnuchin said on Fox.
According to the proposal, the first payment would be issued beginning April 6. Another wave of payments would be distributed to taxpayers beginning May 18. However, specific dates would most likely change during the appropriations process in Congress.