The U.S. House Has Just (literally moments ago) Passed the $2.2-trillion Coronavirus Spending Bill...so it's on it's way to the President's Desk for 'promised' signature. I think it's probably safe to answer the question you are all asking... "What about my 'Coronavirus Assistance Check' from the Government?
Thanks to President Trump, US Treasury Secretary Mnuchin, the entire US Senate, and a majority of the US Congress you will be receiving financial help in the form of a check or direct deposit (depending on if the IRS has your bank account information from a prior tax return) in the near future.
The amount of your Coronavirus assistance check (aka: Stimulus payment checks) depends on several factors. If you made less than $75 in 2019 you will be eligible for $1200 as a single individual. Couples who file their taxes jointly and making less than $150,000 will get $2,400. Heads of Household (for filing purposes) who earned less than $112,500 will get $1200. There will be an additional $500 paid for additional dependent children in any household. The typical family of four should receive $3,400.
One issue is that a lot of individuals will not have filed their 2019 tax returns, especially in light of the fact that the deadline for those returns was extended from April 15th, so the IRS is allowed to work from both wage reporting information for 2019, and also in the absence of that from 2018 tax returns on file.
When the various thresholds values are exceeded (for example $75,000 for a single individual) the payment will be reduced by $5.00 for every $100 of income in excess of the threshold value. The are no payments for individuals making $99,000 or more, or couples making $198,000 or more.
Even persons living on Social Security who were not required to file a tax return for 2018 or 2019 because they had no tax liability will be eligible for one of these Coronavirus checks if they received a Form SSA-1099 for year 2019 reflecting their Social Security benefits. The check will be deposited to either the bank account on file with the Social Security administration to which the Social Security recipient receives the monthly payments or be mailed to their address on file with SSA.
In all cases it is believed that the IRS should be able to begin making deposits of these checks into the accounts of individuals for whom they have banking information within the next three (3) weeks, and that they should start producing and mailing ‘paper checks’ a few weeks thereafter.
By the way, there is no requirement for you to sign-up for, or file for, these checks, they will be automatically issued if you qualify.
This article is just a summary of the most typical provisions of this topic, there are many other provisions and specifics that may apply. For more details check out the official IRS Coronavirus Tax Relief website.