Senators of both the Republican and Democratic parties of the United States have been arguing about the unemployment benefits of the bill before the vote. Specific controversial provisions include direct subsidies of $ 1200 to most American adults, and helping small businesses pay employees. The final bill passed by the Senate includes tax refunds, loans, spending on hospitals and rescue plans. Decided to grant 2 trillion knife subsidies.
Detailed rules for the amount of issuance
Single US Resident (Individual):
File a tax return with an annual income of less than $ 7.5 (including zero returns without income):$1200/person
File a tax return with an annual income of more than $ 7.5:$ 100 for every $ 5 cut
File a tax return with an annual income of more than $ 9.9:Don't Have
Married And Filing Jointly with no children:
File a tax return and the total annual income of the couple does not exceed $ 15:$ 2400/2 people
File a tax return and the couple's total annual income exceeds $ 15:$ 100 for every $ 5 cut
File a tax return and the couple's total annual income exceeds $ 19.8:Don't Have
Head of Household
File a tax return and your total annual household income does not exceed $ 11.25:$1200/person
File a tax return and your total annual household income exceeds $ 11.25:$ 100 for every $ 5 cut
File a tax return and your total annual household income exceeds $ 14.65:Don't Have
Children under 17 in each family:$ 500 / person (up to 2 children per family)
Can I get money? The tax form is over!
For annual income, firstly refer to the 2019 federal tax return (Tax Return), if not, refer to the 2018 federal tax return (Tax Return).
In addition, for those who do not report tax in 2018 or 2019, IRSThe income information will be determined with reference to Social Security Benefits and Railroad Retirement Benefit statements.
Regarding income, the IRS will refer to these documents: 2019 Social Security Benefit statement / SSA-1099 / Social Security Equivalent Benefit Statement / RRB-1099
✌️ People who can receive money
The vast majorityNon-high incomeFamily (ps: individuals with an annual salary of 10+ or 20+)
Includes people receiving non-tax government benefits (eg SSI, compensatory social security income benefits, eligible Americans residing in other countries).
的 People who can't receive money
Most F1 / J1 students (including OPT / OPT-EXTENTION) even if they have an SSN, as long as they report tax according to Non-Resident Alien, they will not meet the conditions of being issued a check;
Individual dependent as another taxpayer, real estate or trust.
Do I need to apply for payment?
No application is required, the IRS decides whether to give checks and amounts based on tax returns and income. (It's your escape ~~)
It is the same form as Tax Refund every year: a notification will be sent to the last known address within 15 days before payment to inform the method and amount of payment.
1. IRS electronic transfer: When reporting tax this year or last year, authorizing direct tax refund to bank account (Direct Deposit Refund)
2. IRS mailed cheque: Tax Refund has not been authorized for the account, and mailed with reference to tax form information.
The finance minister said that the current goal is that the first payment can be made in the week of April 4. Back in 6, the U.S. government did something similar to issuing cash, and it took eight weeks for all eligible Americans to receive checks.
Compliance with "resident status" based on tax form
Submit 1040 when filing taxes: Your identity is "Resident" (Resident Alien&Citizen)
File 1040-NR / 1040NR-EZ when you file your tax return: your status is "Non-resident Alien"
Who are Non-resident Alien and Resident Alien?
Because in terms of tax reporting, there is a big difference between residents and non-residents: For example, an F / J / MQ visa as a non-resident alien (NRA) can be exempt from Social Security and Medicare taxes. This time the payment is defined based on the status of "tax resident", so let's take a look at what exactly is a non-resident alien Non-resident Alien and a resident alien Resident Alien.
The difference between residents (Resident Alien, RA, also called resident foreigners) and non-residents (Nonresident Alien, NRA, also called non-resident aliens) is explained on the official website of the IRS. There are two simple rules of judgment:
1. The Green Card Test. If you have a US green card, it's Resident Alien.
2. The Substantial Presence Test. In layman's terms, although you are not a U.S. citizen or permanent resident, but "equivalent to already living here", you are also Resident Alien:
a. Must be in the United States for at least 31 days in the current year
b. Count at least 183 consecutive days in the United States
c. Calculation method: days in current calendar year + 1/3 days in previous year + 1/6 days in previous year
It should be noted that foreign students (F, J, M, Q visas) are non-residents for the first 5 years and visiting scholars for the first 2 years, and they can be exempted from reporting tax as a non-resident alien. The work visa H1b is not exempt, and it is completely based on the Substantial Presence Test. Therefore, H1B holders, except for those who leave the country for a long time, generally, because they are taxed according to Resident Alien. It should be eligible for the relief payment.
After reading the above interpretation, do you think you can get money?
But this year, it is still important to keep your life, let the money go.
Today, the United States has more diagnoses than China and Italy
America, come on! Hold on!
https://www.washingtonpost.com/business/2020/03/26/senate-stimulus-bill-coronavirus-2-trillion-list-what-is-in-it/
* This article is an original article on food,
Represent the views of the author only,
Not related to business interests.
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