Coronavirus Tax Relief and Economic Impact Payments

According to the IRS website the United States Treasury should start releasing stimulus to qualifying tax payers this Friday.

The past two weeks has seen a flurry of action from Congress as they brought to life several initiatives designed to help boost the economy after the devastating economic impact of countywide stay at home orders.

The stimulus plan will he designed to put up to 1200.00 in the hands of taxpayers and up to 500.00 for dependents. If you are married the amount is doubled to 2400.00. This program is designed to help single taxpayers whose AGI is 75k a year or less. If you are married the limit is 150k a year. For single taxpayers the stimulus payment will begin to gradually decline until your adjusted gross income reaches 99k a year at which point no stimulus payment will be awarded. If you are married the limit doubles to 198k. For current information related to your income taxes and Covid-19 subcribe to our You Tube Channel and check out our latest video @ https://youtu.be/VmSShxO7GKM