President Trump has approved a $2.2 trillion stimulus relief plan to offer aide to those hurting financially from the Coronavirus pandemic. Financial planning advisor Dustin Stanley of Strategic Wealth Designers joined WDRB in the Morning to highlight how it will potentially help jumpstart the economy. He says it should work smoothly. Singles making under $100,000 will receive $1,200, couples making under $150,000 will receive $2,400 and those with children in their care will get an extra $600 per child.
“You don’t have to sign up at all to qualify, you’re already set to receive it, as long as you have filed taxes in with the last several years you’re automatically signed up,” Stanley says. “The last time there was a stimulus in 2008 it took about 8 weeks to get all the checks out, so anytime in the next 2 to 10 weeks you should be getting a check if you qualify.”
You will still qualify for the stimulus even if you have not filed taxes for 2019 yet. Those who draw social security and who are on disability insurance will also qualify for getting a stimulus check. “This is truly non-taxable, you don’t have to claim this on your taxes, you get to keep the entire stimulus,” Stanley says.
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