If you are a taxpayer in New York with a Social Security number, are a resident of the United States, and have the required adjusted gross income and children — you are eligible for a stimulus check. Here’s how it works:
If You Qualify How Much Money Will You Get?
The stimulus money breaks down like this:
- Individuals earning under $75,000 adjust gross income will get $1,200.00.
- Married couples earning under $150,000 adjusted gross income will get $2,400.00.
- Head of household earning under $112,500 adjusted gross income will get a full payment
- If you have dependent children, you will receive $500.00 per child regardless of how high your adjusted gross income is.
What if You Make More Than the Qualifying Amounts?
If your adjusted gross income is more than the numbers listed above, your stimulus check will be reduced based upon your income. Your payment will be reduced by $5.00 for every $100.00 in income above the limit.
For single people whose adjusted gross income is $99,000 or married couples without children whose adjusted gross income is $198,000 will not qualify for the stimulus checks.
How Will You Get Your Stimulus Money?
The United States government claims that the stimulus checks will be sent out within three weeks. This timeline appears to be rather ambitious, but they are trying to rush the process along.
Your payment will be sent through a direct deposit that you may have provided on your 2019 tax return. If you didn’t offer your direct deposit information, the IRS would mail your stimulus check.
Moreover, if you haven’t filed your 2019 tax return yet, the government will use the information provided on your 2018 tax return.
Who Will Not Qualify?
If you, as an individual, make more than $99,000 or married couples who make more than $198,000, adjusted gross income will not qualify for a stimulus check.
Additionally, if you are in a family with two children, you wouldn’t be eligible for any payment if your adjusted gross income is higher than $218,000. However, there isn’t a limit to qualify for a stimulus check for children.
What if You Are on Social Security?
If you are a Social Security recipient in New York, you will get payment as long as you received a Social Security Administration 1099 for 2019.
What Year is the Tax Return Based Upon?
The United States government is basing your stimulus check on your 2019 tax return. If you haven’t filed your 2019 tax return as of yet, then your 2018 tax return will be used.
Gary P. Falkowitz is the Managing Partner and Founding Attorney of the Falkowitz Law Firm PLLC‚ one of the premiere personal injury law firms in New York. Gary received his J.D., in 2005 from St. John’s University School of Law and served as an Assistant District Attorney with the Kings County District Attorney’s Office.
