From the Office of Senator Randolph Bracy, District 11
Senator Bracy represents District 11 which includes Apopka. Below are specific details and answers to questions you may have about the stimulus package signed by President Trump on March 27, 2020.
Stimulus Check Payments
How large would the payments be?
Most individual taxpayers will get $1,200 each if their Adjusted Gross Income (AGI) is less than $75,000. Individual taxpayers with AGIs above $75,000 will receive smaller payment, with a $5 reduction for every $100 in income above $75,000. Those individual taxpayers with AGIs $80,000 or more will have a reduction of $250 with a total payout of approximately $950. Married couples with no children earning $150,000 or less would receive a total of $2,400. Someone filing as the head of household would receive the full payment if they earn $112,500 or less. For every child age 16 or under, the payment would be an additional $500.
How do I know if I will get the full amount? It depends on your income. Everyone must have a valid Social Security number. There is an exception for members of the military. You can find your AGI on 8b of the 2019 - 1040 Federal Tax Return or line 7 of your 2018 tax return.
What year’s income should I be looking at? The payment will be based on either your 2019 or 2018 tax filing. If neither was filed, you can use your 2019 Social Security statement showing your income.
Would I have to apply to receive a payment? No. the Internal Revenue Service (IRS) has your banking information, the payment will be transferred to you via direct deposit based on your recent income-tax figures.
When will the payment arrive? According to Treasury Secretary Steven Mnuchin, he expects most people to receive their payments within three weeks.
Would most people who are receiving Social Security retirement and disability payments also get a stimulus payment? Yes
Would eligible unemployed people get these stimulus payments? Veterans? Yes, both are eligible.
How many payments would there be? This is a one-time payout. Congress can propose future bills to consider additional payments.
Payments and interest for student loan borrowers waived until Sept. 30th. You are eligible if you have received a federal loan in the past 10 years
Check your online account in several weeks because it takes time for the loan servicer to reset its billings systems. Make sure you are showing up as no payment due. Within a few weeks, you will also receive notice indicating what has happened with your federal loans
The bill says that interest “shall not accrue” on the loan during the suspension period
Wage garnishment, seizure of tax refunds, and other collection efforts for those who are behind on loan payments will also be suspended during this six-month period
Loans that are NOT eligible include: Older Federal Family Educational Loans (F.F.E.L.) that the US Department of Education does not own, Perkins Loans, loans from state agencies, and loans from private lenders like Discover, Sallie Mae and Wells Fargo. Please check with these holders if you have a loan with them because they may be offering their own assistance programs
If your employment have been affected by the coronavirus, Contact the Department of Economic Opportunity, http://www.floridajobs.org/job-seekers-community-services, this department assists those without employment. Everyone would get at least another 13 weeks, along with an extra $600 payment. Additionally, Department of Economic Opportunity applicants you no longer need to 1) register online or 2) show you are able/available for work (“work search”). This order is retroactive up to March 15th and is effective until May 2nd.
The additional $600 benefit will count as income when determining eligibility for other aid programs, except for Medicaid and the Children’s Health Insurance Program, known as CHIP.
Fortunately, states have been informed to waive the one-week waiting period. However, the waiting period varies from state to state considering the current backlog that state offices are experiencing due to the pandemic.
If the head of your household has passed away recently due to COVID-19, you are eligible to receive financial assistance.
For employees who are working from home, receiving paid sick leave or paid family leave, you will not be eligible for financial assistance. Lastly, new entrants to the work force that cannot find jobs are not eligible either.
According to congressional aides, this incentive was not intended to cover people who quit or who were considering quitting, because of fear that continuing to work puts them at risk of contracting coronavirus.