GringoPost | Ecuador: Who is eligible for coronavirus Federal stimulus funds: US Taxpayer

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Who is eligible for coronavirus Federal stimulus funds: US Taxpayer

Who is eligible?
-US Residents with social security numbers.
-US Expats.

How much will US Taxpayers receive?
-$1,200 per adult & $500 per child under the age of 17.
-If you earned less than $75K for Single, you receive the full amount.
-For married couples filing together it is doubled to $150K
-The amount is reduced by $5 for every $100 exceeding $75K for Single.
-Above the income limit as per below you receive 0.

Filling status income threshold limit
-Single, less than $75,000 $99,000
-Married Filing Jointly (MFJ) Less than $150,000 $198,000
-Head of Household (HOH) Less than $112,500 $146,500

What if my 2020 income will be substantially less than 2019?

The government will use 2019 tax return income to calculate payments and 2018 tax return income if 2019 is not yet available. If your 2020 income increases and you had received a smaller amount than the one you received, you will not have to pay it back.

If you would like more information, you can contact me via email:

Fulton Abraham Sanchez: fa@fascpaconsultants.com 786 462 7899. Call after: 11 AM.