HELLO … I’M FAITH BROWN, VITA COORDINATOR AT SOUND OUTREACH.
OUR MISSION AT SOUND OUTREACH IS TO HELP OUR COMMUNITY REACH FINANCIAL HEALTH.
I’M MARTIN PIRGIOTIS - THE SILVER FINANCIAL COUNSELOR HERE AT SOUND OUTREACH.
TO REACH AS MANY PEOPLE AS POSSIBLE, WE ARE PRODUCING A SERIES OF VIDEOS WITH CRITICAL INFORMATION YOU NEED NOW.
TODAY’S TOPIC IS HOW TO BE IN THE BEST POSITION TO QUICKLY RECEIVE A STIMULUS CHECK FROM THE FEDERAL GOVERNMENT AS PART OF THE CARES ACT.
THE CARES ACT CALLS FOR STIMULUS CHECKS TO BE ISSUED TO EVERYONE WHO QUALIFIES TO HELP COPE WITH THE FINANCIAL IMPACTS OF THE CORONAVIRUS.
WE WANT TO MAKE SURE YOU GET YOUR CHECK.
HAVING THE INFORMATION IN THIS VIDEO MIGHT BE THE DIFFERENCE BETWEEN GETTING A CHECK IN A COUPLE OF WEEKS … OR 5 MONTHS.
YOU MIGHT BE ASKING… WHO GETS A CHECK?
THERE ARE CERTAIN QUALIFICATIONS.
YOU’RE IN LINE FOR A CHECK IF YOU….
-HAVE A SOCIAL SECURITY NUMBER
-FILED TAXES IN 2018 OR 2019….
-OR DON’T EARN ENOUGH TO FILE BUT RECEIVE SOCIAL SECURITY PAYMENTS
-YOU’RE NOT CLAIMED BY ANYONE ELSE AS A DEPENDENT.
PLUS… THE ADJUSTED GROSS INCOME FROM YOUR MOST RECENT FILED TAX RETURN…
CAN BE NO MORE THAN 75-THOUSAND DOLLARS FOR SINGLE FILERS…
OR 150-THOUSAND FOR MARRIED COUPLES.
BASICALLY… IF YOU MEET THE CRITERIA… YOU CAN EXPECT
-12-HUNDRED DOLLARS FOR INDIVIDUALS
-24-HUNDRED FOR MARRIED COUPLES
AND, AN ADDITIONAL 5-HUNDRED FOR DEPENDENTS UNDER AGE 17.
THERE IS A PHASE-OUT WITH HIGHER INCOMES.
THE PHASEOUT STARTS AT 75-THOUSAND IN ADJUSTED GROSS INCOME FOR SINGLES, 112-THOUSAND-500 FOR HEADS OF HOUSEHOLD, AND 150-THOUSAND FOR MARRIED COUPLES FILING JOINTLY.
IT WILL PHASE OUT ENTIRELY BY 99-THOUSAND DOLLARS FOR SINGLES…
136-THOUSAND-500 FOR HEADS OF HOUSEHOLD, AND 198-THOUSAND FOR COUPLES WITH NO CHILDREN.
(ONCAM) AGAIN… HOW MUCH YOU WILL GET IS BASED ON YOUR ADJUSTED GROSS INCOME FROM YOUR MOST RECENTLY FILED TAX RETURN.
BUT WHAT IF YOU HAVEN’T FILED A TAX RETURN…. THEN WHAT?
THE I-R-S IS ENCOURAGING EVERYONE TO FILE A TAX RETURN AS SOON AS POSSIBLE… EVEN IF YOU WHO WOULDN’T NORMALLY FILE BECAUSE OF LOW WAGES.
IF YOU RECEIVE SOCIAL SECURITY… BUT DON’T FILE TAX RETURNS… YOUR STIMULUS CHECK WILL BE ISSUED FROM THE SOCIAL SECURITY DEPARTMENT…AUTOMATICALLY.
IF YOU MEET THE CRITERIA FOR A STIMULUS CHECK, THERE ARE TWO WAYS TO RECEIVE YOUR CHECK.
FIRST… IF YOU PROVIDED DIRECT DEPOSIT BANK ACCOUNT INFORMATION ON OUR LAST TAX RETURN… THE CHECK WILL BE DIRECT DEPOSITED INTO THE ACCOUNT YOU LISTED.
THOSE FUNDS ARE EXPECTED TO GO OUT MID-APRIL.
IF YOU DID NOT PROVIDE DIRECT DEPOSIT, THE FEDERAL GOVERNMENT WILL MAIL YOU A PAPER CHECK.
HOWEVER…THOSE CHECKS COULD TAKE FIVE MONTHS TO RECEIVE.
TO GET A CHECK QUICKLY: YOU NEED TO HAVE A BANK ACCOUNT AND GET THAT INFORMATION TO THE I-R-S FOR DIRECT DEPOSIT TO YOUR ACCOUNT.
THE I-R-S HAS COMMITTED TO SETTING UP A PORTAL TO UPDATE YOUR PERSONAL INFORMATION… LOOK FOR UPDATES ON ITS AVAILABILITY ON OUR WEBSITE AS WELL AS ANNOUNCEMENTS IN THE MEDIA.
IT IS IMPORTANT TO NOTE THAT NOT EVERYONE IS ELIGIBLE TO GET A STIMULUS CHECK FROM THE U-S GOVERNMENT.
AND I ENCOURAGE YOU TO VISIT I-R-S-DOT-GOV TO FIND THE LATEST INFORMATION ABOUT STIMULOUS CHECKS.
IF YOU NEED YOUR STIMULUS CHECK THIS MONTH TO HELP PAY THE BILLS. AS FAITH SAID… IT IS CRITICAL THAT YOU HAVE A BANK ACCOUNT AND THE I-R-S HAS YOUR BANKING INFORMATION.
IF YOU DO NOT HAVE A BANK ACCOUNT… THERE IS A LIST OF AFFORDABLE BANK ACCOUNTS ON OUR WEBSITE WHERE YOU CAN OPEN AN ACCOUNT AND SET UP DIRECT DEPOSIT.
THERE ARE CHANGES AND UPDATES DAILY… WE INVITE YOU TO REACH OUT TO SOUND OUTREACH IF YOU HAVE QUESTIONS...
WE HAVE VITA VOLUNTEERS READY TO TAKE YOUR CALLS… YOU CAN REACH A VOLUNTEER AT 253-593-2111. THEY CAN ALSO WALK YOU THROUGH FILING YOUR TAXES ONLINE FOR FREE.
YOU CAN ALSO VISIT OUR WEBSITE - SOUNDOUTREACH-DOT-ORG AND FILL OUR A CONTACT FORM AND SOMEONE FROM OUR OFFICE WILL GET BACK TO YOU.
WE’VE PUT THE LINK AT THE TOP OF OUR RESOURCE LIST SO IT IS EASY TO FIND.
OUR NEXT VIDEO WILL BE TIPS ON HOW TO USE YOUR CHECK TO MAKE ENDS MEET.
WE ARE HERE IF YOU NEED US!