What happens next Where's my refund? Best CD rates this month Shop and save 🤑
Coronavirus COVID-19

Stimulus check: Calculate how much money you could get

Jared Whalen
Delaware News Journal

You might have some extra money coming from the U.S. government this spring. 

President Donald Trump signed a $2 trillion bipartisan stimulus package Friday that is intended to address the threat of economic disaster posed by the coronavirus pandemic.

Trump signed the measure – the largest stimulus in U.S. history – in the Oval Office hours after it was approved by the House of Representatives, an unusually rapid approval that underscored dire warnings of a recession as companies began to lay off workers and U.S. consumers hunkered down in their homes to avoid spreading the virus.

Speaking of your money:Get help with it. money tips and advice delivered right to your inbox. Sign up here

For individuals, the amount of money you receive is based on your household income and how many children you claim as dependents on your taxes. 

Use the calculator below to determine how much you would receive. 

Calculate your stimulus check

If the calculator does not open on your platform, try this link to open the full page

How is the amount determined?

Here's how the amount is calculated under the current plan:

  • Adults receive a lump sum of $1,200 (or $2,400 for those filing tax returns jointly). 
  • People with little or no tax liability would get at least $600 (or $1,200 for joint returns). 
  • Families receive an addition $500 for each qualifying child claimed as a dependent. 
  • The payment would be progressively reduced for higher-income earners, starting at $75,000, or $150,000 for a joint return.
  • Individuals earning more than $99,000 wouldn't qualify at all.
  • Married couples filing jointly are eligible for a $2,400 check if their household income is below $150,000. Similarly, that amount is reduced gradually up to $198,000.
  • Those filing as a "head of household," typically single parents, will receive the full $1,200 check if they earn up to $112,500 a year, and reduced checks up to $136,500 annually.

The government will use your 2019 tax return if you've filed it. If you did not file yet, your 2018 filing will be used. 

How and when will the money be delivered?

The U.S. Treasury secretary has said "we will get his out in three weeks" after it passes Congress. It's hard to pin down specific dates at this point, though. 

If you set up direct deposit with the IRS for your tax refunds, you should get the money faster than those who will get a check in the mail. 

When the government sent checks to Americans in 2008 under President George W. Bush, the stimulus was signed into law Feb. 13 and checks didn't start going out until late April. 

What we know:How the $2T coronavirus stimulus will affect you and the economy

Paul Davidson contributed to this report. Jared Whalen with the News-Journal in Wilmington, Delaware, created the calculator. 

Featured Weekly Ad