The GOVT is sending $1200 cheques this week! Here’s how to get yours.

Amid the economic downturn sprung by the COVID-19 pandemic, over 11 million Americans have filed for unemployment since March. However, that figure is not an accurate depiction of the actual number of unemployed Americans. as Economists and experts of industry estimate that at least 30 million people will lose their jobs during this Quarantine season.

To ease the financial constraints on citizens, President Trump signed a $2.2 trillion emergency relief bill in March that gives benefits to student loan debtors, offers financial aid to small businesses and the unemployed alike, and pays qualified US taxpayers up to $1200 in form of an economic impact payment.

As cheques and direct deposits start to go out this week, you may be wondering if and how you qualify. For this reason, we’ve written this detailed article explaining everything you need to know.

1) Do I have to file taxes to qualify?

Yes you do. At the very minimum, you need to have filed taxes for 2018. The amount of money you receive is calculated from the income stated on line 8b of the 1040 federal tax form, on your 2018 or 2019 federal tax filing. For those yet to file 2019 taxes, the US government the extended the deadline for filing to July 15 due to the COVID-19…