What is in the new COVID stimulus bill

Individual adults with adjusted gross income on their 2019 tax returns of up to $75,000 a year would receive a $600 payment, heads of household making up to $112,500 and a couple (or someone whose spouse died in 2020) earning up to $150,000 a year would get twice that amount. If they have dependent children, they would also get $600 for each child.

People with incomes just above these levels would receive a partial payment that declines by $5 for every $100 in income.

Did you make much less money in 2020 than 2019, thus making you eligible for this newest payment even though your 2019 income makes you appear ineligible? When you file your 2020 return, there will be a way for you to claim this money then in the form of a refundable tax credit.

For many recipients, yes. For the first round of stimulus, the government also issued payments via paper check and prepaid benefit cards.

You can claim what is known as a “recovery rebate credit” when you file your 2020 tax return. The Internal Revenue Service has a page on its website that explains the details.

If they are 17 or older, they will not be eligible for a payment and you cannot collect one on their behalf.

In the spring, that usually meant that neither of you was eligible for payments. Now, when two people are married and filing their taxes jointly and only one spouse has a Social Security number, they would be eligible for a single $600 payment. Each of their children with Social Security numbers would also be eligible for the $600.

This change would be retroactive, which means that you could use your 2020 tax return to claim the payment that you did not get in the spring.

The agreement would provide $25 billion to be distributed through state and local governments to help renters who have fallen behind.

To receive assistance, households would have to meet several conditions, according to a congressional aide: Household income (for 2020) cannot exceed more than 80 percent of the area median income; at least one household member must be at risk of homelessness or housing instability; and individuals must qualify for unemployment benefits or have experienced financial hardship — directly or indirectly — because of the pandemic.

The agreement would extend a moratorium on renter evictions through Jan. 31.

MORTGAGE FORBEARANCE If you’re struggling to make your payments, you may qualify for a forbearance, which allows homeowners to temporarily pause or reduce payments for up to 180 days (after that, homeowners can ask for an additional 180 days). These rules, which apply to federally backed mortgages, are still in effect as part of the CARES Act relief package passed in March.

Not in this agreement, according to congressional aides. The pause on payments begun in the CARES Act had already been extended to Jan. 31 by the Education Department.

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