Stimulus Check

Many individuals have been fired or laid off due to the Covid-19. We are headed towards recession. Our president has decided to provide a stimulus check. It still just a proposal. The senate has passed the bill. Now, the house is set to vote on it this Friday, then the president. Yet, it is not official yet. The idea is to help alleviate the financial distress many families are going through. The idea is that singles who earn less than $99,000, head of households who earn less than $112,500, and marries couples filing jointly who earn less than $198,000 will each qualify for $1,200 and $500 per child. Meaning a married couple will qualify for $2900. Supposedly the stimulus check is a refundable tax credit for 2020 and there will be nothing to pay back. Yet, it sounds too good to be true. I personally believe there is a catch somewhere. We shall see when we file our taxes in 2020, yet it will also benefit many families who are currently struggling. 

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