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COVID-19 Stimulus Checks: When to Expect Them and How Much

President Donald Trump signed the $900 billion COVID-19 stimulus bill on December 27. Here's how much money you can expect.

President Donald Trump on Dec. 27 signed a $900 billion COVID-19 stimulus package that included direct checks for millions of Americans that could come as soon as this week. 

Who Gets a Check?

The last round of stimulus checks went out to about 160 million Americans. Basically, if Americans that filed taxes last year and got a stimulus check the last time around, are in luck. 

When Do I Get My Check?

Treasury Secretary Steven Mnuchin said checks could go out as early as the week of Dec. 28, but Trump delayed three days in signing the bill handed to him by Congress. The treasury has not updated its timeline, and Congress has since established a Jan. 15 deadline for the payments to go out. If you're eligible for a check but don't get one by that date, you'll have to request a refund when you file your 2020 taxes.

How Much Are the Checks For?

The payments start at $600 per adult and $600 per child. The last round of payments were $1,200 per adult and $500 per child.

The payments start to taper off if an individual's gross adjusted income on their 2019 tax return passes $75,000. For a head of household, this limit raises to $112,500. For a married couple filing jointly, the limit is $150,000. 

For individuals making more than $87,000 in 2019, the payment reaches $0. For married couples, the number is $174,000. 

What About the $2,000 Checks?

Trump has vocally supported increasing the payments to $2,000, and on Monday the House voted to increase the payments. The Senate still has to vote on an updated bill, which Trump would then need to sign into law.

A treasury official told the Wall Street Journal that if checks go out for $600 and then Congress passes the bill to increase them to $2,000, payments "will be topped up."