Who gets a stimulus check? And beware of coronavirus scams

News

Retirees, workers and people laid off from work all will get coronavirus-related stimulus checks as long as they have a Social Security number, filed tax returns in 2018 or 2019 and meet the income requirements.

The checks will be sent via direct deposit if the IRS has bank account information from previous tax filings. If the IRS doesn’t have that info, expect a check in the mail.

People should start receiving relief checks, or direct deposits, within three weeks, according to Treasury Secretary Steve Mnuchin.

In 2008, when stimulus payments were issued, it took a couple of months for the IRS to get checks into the mail. Today, the IRS is understaffed during the coronavirus pandemic.

So, expect a wait.

How much will you get?

Checks will be based on income levels. Individuals making $75,000 or less could be eligible for $1,200 plus $500 for minor children. Those who make above the threshold will see check amounts phased back accordingly. To see how much you’ll likely receive, check out Kiplinger’s stimulus check calculator.

Scams aplenty

The Federal Trade Commission is warning people about scams regarding the checks.

Jennifer Leach, an associate director in the FTC’s division of Consumer and Business Education, offered some tips in a blog post on March 18.

1. The government will not ask you to pay anything upfront to get this money. No fees. No charges. No nothing.

2. The government will not call to ask for your Social Security number, bank account, or credit card number. Anyone who does is a scammer.

3. Reports of money already available are not true. If anyone who tells you they can get you the money, they’re a scammer.

If you spot a scam, report it: ftc.gov/complaint

Avoid coronavirus Scams

Treatments, miracle pills and cures for coronavirus are all over the Internet and being hawked on the phone. The FTC also has many tips to help you keep the scammers at bay:

Hang up on robocalls: Don’t press any numbers. Scammers are using illegal robocalls to pitch everything from fake coronavirus treatments to work-at-home schemes. The recording might say that pressing a number will let you speak to a live operator or remove you from their call list, but it might just lead to more robocalls.

Ignore online offers: Especially for vaccinations and home test kits. Scammers are trying to get you to buy products that aren’t proven to treat or prevent the coronavirus. At this time, there also are …read more

Source:: Dailynews – News

      

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