News from Representative Luria

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Dear Friend,

On March 27, I voted for the Coronavirus Aid, Relief, and Economic Security (CARES) Act in order to strengthen our public health response as well as our economic security in light of the COVID-19 pandemic. To that end, this bill will provide a one-time stimulus payment for most Americans. These payments will come from the IRS in the form of a direct deposit to your bank or credit union account or a check in the mail.

 

Most Virginians will receive this payment automatically, but some will need to take further action so please read the below carefully. 
 

Who is eligible to receive a stimulus payment?

If you are an adult with a valid Social Security number and made less than $75,000 in 2019, you are eligible to receive a CARES Act stimulus payment, even if you do not normally file a tax return.

The maximum payment allowed is $1,200 per individual or $2,400 per married couple filing jointly, plus $500 per dependent child. Those qualifying for the full amount are:

  • Single individuals whose 2019 adjusted gross income (AGI) was $75,000 or less;
  • Heads of households whose 2019 AGI was $112,500 or less; and
  • Married couples filing jointly whose 2019 AGI was $150,000 or less.

What if my 2019 AGI is above the threshold?

 

If your adjusted gross income (AGI) is above the threshold for your filing status, your CARES Act payment will be phased out depending on your income. The payment will be decreased by $5 for every $100 you make above the threshold. For example, a single individual with no dependent child would receive $0 if their 2019 AGI was $99,000 or higher.

 

What if I haven’t filed my 2019 taxes yet?

 

If you have not yet filed your 2019 taxes, the IRS will use information from your 2018 tax return to determine the size of your payment. People who have filed a 2018 or 2019 tax return should receive their CARES Act payment automatically by check or direct deposit.

 

On April 1, the U.S. Department of Treasury announced that Social Security recipients who typically do not file tax returns will receive a $1,200 payment.  

 

Am I eligible if I have not filed a tax return in recent years?

Yes, as long as you have a valid Social Security number, but you may need to file a simple tax return.  


The IRS is encouraging people who have not filed 2019 or 2018 tax returns to do so soon. Even if you do not have to pay taxes, you may still need to file a simple return. The IRS is developing instructions on how to file a simple 2019 return that includes only necessary information such as filing status, number of dependents, and direct deposit information if applicable. 


If you make less than $69,000 you are eligible to file your taxes for free online using the IRS’ Free File program

 

Am I eligible if I am a Social Security recipient and have not filed my taxes?


On April 1, the U.S. Department of Treasury announced that Social Security recipients who typically do not file tax returns will receive a $1,200 payment.  

 

Are dependents aged 17 or older eligible to receive a payment? 


No. Individuals who are or can be claimed as a dependent and are aged 17 or older are not eligible to receive a payment. 

 

When will I receive my payment? 


Payments can be distributed any time before the end of 2020. The IRS has not yet set a deadline by which Americans will receive their CARES Act payment. Administration officials have expressed that they intend to begin sending out payments within a matter of weeks. 
 

How will I receive my payment? 


 If you already receive refunds from the IRS by direct deposit to your bank or credit union account, you will likely receive your payment in that account. The IRS is working to develop a web-based portal for individuals who have not already done so to provide direct deposit information in the coming weeks. Finally, some may receive a check in the mail.

 

I have a complex tax status. Are there resources available to answer questions about specific scenarios? 
 
As of April 1, the IRS has not yet released detailed information on how it will implement the CARES Act stimulus payment program. That means that information needed to answer individual questions about how much you can expect to receive given specific circumstances is not yet available. 


The IRS is working to finalize guidance quickly and is required by law to mount a public awareness campaign to ensure Americans understand how they can receive this stimulus payment. 

 

Where can I find more information? 
The IRS is posting updates as they become available at irs.gov/coronavirus

 

Please know that my team and I stand ready to assist our community during this time of need. For helpful guidance to keep you and your family safe, please click here. If you have any questions, please feel free to reach out to our offices via the phone numbers below.

Sincerely,

 

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