Coronavirus Stimulus Package Provides $1,200 Checks for US Expats
The Senate passed the $2.2 trillion stimulus bill to deal with the effects of coronavirus.
US expats are eligible and full details are below.
Am I eligible?
For single filers - if you made $75,000 or less in 2019
For a couple - if you made $150,000 or less in 2019
If you haven't filed your 2019 US tax return, you still have time and you should file now.
How much will I receive?
The coronavirus stimulus check is $1,200 per adult
Plus $500 per child - any child who is a US citizen with a social security number under the age of 17
Income above the thresholds
You can find your adjusted gross income on Line 8b of the 2019 1040 federal tax return.
For every $100 of income you have above the thresholds, your benefit will be reduced by $5
Singles:
$75,000 or less: $1,200
$80,000: $950
$85,000: $700
$90,000: $450
$95,000: $200
$99,000+: $0
Married Filing Jointly:
$150,000: $2,400
$160,000: $1,900
$170,000: $1,400
$180,000: $900
$190,000: $400
$198,000+: $0
If you’re above the income limits, you may still get a check for your kids. The payment will be reduced by $50 for every $1,000 you earn over the limit
When and how will I receive the payment?
Treasury Secretary Mnuchin said that checks will start going out in three weeks, but that may be optimistic. The payments from the 2008 stimulus package went out in batches, with the later ones taking about eight weeks.
If the IRS has your US bank details, they will send the payment directly to you bank. If they do not hold your US bank account number, they will send out a paper check to the address on your last filed US tax return.
Are the payments recurring?
No, this is a one off payment. As the US Treasury understands how long the economy will be affected, there may be another bill and further payments.
If you owe taxes will the payments be reduced?
No this payment is separate to past taxes and will still be paid even if you owe back taxes.
Are the payments taxable or repayable?
The stimulus payments are not taxable, and there are no clawbacks if a taxpayer received the payment and makes over the thresholds in the future.