Unemployment + Stimulus Checks

Details for the $600 federal unemployment boost:

• You must currently receive unemployment from the state due to a COVID 19-related layoff.

• There is no income cap or range requirement. Everyone on unemployment gets it.

• The intent is to compensate unemployed Americans as close to 100% income as possible.

• The Uninsurance Insurance Agency (UIA) isn't fully sure how these checks will be distributed: added to your current unemployment check or sent separately. Considering the current backlog of unemployment claims, it may take some time before you see the $600 boost.

• Individuals who are eligible for unemployment can collect federal benefits 19 weeks; these benefits are scheduled to end on July 31, 2020. Check with your state regarding the longevity of state unemployment benefits.

Second to the unemployment benefits come the stimulus checks. The stimulus checks in a nutshell:

• Most individuals earning less than $75,000 can expect a one-time cash payment of $1,200.

• Married couples each receive a check and families get $500 per child. That means a family of four earning less than $150,000 can expect $3,400.

• The checks start to phase down after that and disappear completely for people making more than $99,000 and couples making more than $198,000.

• The cash payments are based on either your 2018 or 2019 tax filings.

• People who receive Social Security benefits but don't file tax return are still eligible, too. They don't need to file taxes; their checks will be based on information provided by the Social Security Administration.

• The checks phase out at $75,000 for singles, $112,500 for heads of household, and $150,000 for joint taxpayers at 5 percent per dollar of qualified income, or $50 per $1,000 earned. They phase out entirely at $99,000 for single taxpayers with no children and $198,000 for joint taxpayers with no children.