U.S. Rep. Wm. Lacy Clay

Our nation faces the worst pandemic in decades. Urgent action is needed to address this unprecedented threat to the United States of America, and most importantly, the lives and livelihood of the American people.

Earlier today, the House of Representatives moved swiftly to vote on legislation which, thanks to bipartisan unity, focused on providing desperately needed relief to the millions of workers losing their jobs or otherwise struggling to make ends meet.  

The bill primarily addresses provisions to save lives and support families, workers and small businesses.  Specifically, this bill will provide direct payments to eligible American families to help pay bills and stimulate our economy to help us recover from the widespread and enduring hardships caused by the COVID 19 pandemic.  I wanted to share some information and answer some of the questions you may have about these rebates:

 

What is this Recovery Rebate?

Simply put, the rebate is a direct payment intended to assist low and middle-income individuals and families. The purpose of these rebates is to assist you in affording what you need during this public health crisis. The rebate you receive will not have to be paid back.

These rebates are structured as tax credits automatically advanced to households in 2020 if you filed a 2019 income tax return and would be received as a direct deposit or check by mail. If your 2019 return has not been filed, the rebate would be advanced based on your 2018 return information. 

Who is Eligible to receive this rebate and How much will it be?

The amount of the rebate depends on family size. The payment is $1,200 for each adult individual ($2,400 for joint filers), and $500 per qualifying child under age 17.

The advance payment of rebates is reduced by $5 for every $100 of income to the extent a taxpayer’s income exceeds $150,000 for joint filers, $112,500 for a head of household filer, and $75,000 for anyone else (including single filers).

Individuals that are excluded from receiving a rebate:

  • Nonresident aliens

  • Individuals who can be claimed as a dependent by another taxpayer

  • An estate or trust

When and How will I receive my Rebate?

This bill requires the Internal Revenue Service (IRS) to deliver your rebate quickly in the form of advance payments. If you have filed a federal income tax return in 2018 or 2019, payment processing will be based on payment or address information already on file with the IRS. Electronic payments will be automatic to an account the payee authorized 2018 or later.

Rebates will be delivered automatically by the IRS to most U.S. citizens who file individual federal income tax returns. If available, electronic deposit will be used in place of mailing a physical check.

If you have recently moved, the IRS will determine the payment system for those entitled to the rebate.

I’m a Senior, or I don’t need to File a Tax Return. Are Non-filers still Eligible for a Rebate?

Yes: There are no earned income requirements to be eligible for the rebate. However, non-filers will have to take some additional steps to obtain their rebate.

For example, the Social Security Administration (SSA) will share their information with the IRS for those who receive Social Security benefits. This is to ensure that the IRS can make automatic advanced payment to Social Security beneficiaries.

 

I benefit from the Supplemental Nutrition Assistance Program (SNAP) and/or other federal income-targeted programs. Will the Rebate Affect my Eligibility?

No. As mentioned before: The rebate is structured like a tax refund. The rebate you receive will not impact your eligibility for federal programs.  

 

Are there any Identification Requirements to receive the rebate?

An individual must have their Social Security Number (SSN) for themselves. If an individual has qualifying children, they also need to have their SSN.

If you have any other questions or want to know more about the rebates, please visit the IRS’ website HERE for up to date information.

 

Is there anything in the bill for Small Businesses?

Yes, The Small Business Administration (SBA) administers several types of programs to support small businesses, including

  • Direct disaster loan programs for businesses, homeowners, and renters to assist their recovery from natural disasters;

  • Loan guaranty and venture capital programs to enhance small business access to capital;

  • Small business management and technical assistance training programs to assist business formation and expansion; and

  • Contracting programs to increase small business opportunities in federal contracting.

 

To learn more, please visit the SBA’s website HERE for up to date information.

 

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These initiatives are just a few of the many aimed at helping American families, workers and small businesses through this crisis.  Please be assured I will continue working with all of my colleagues in Congress to protect the health and safety of our community.  

I wish you and your family the best during this difficult time.  Please know that I remain dedicated to the health and wellbeing of my constituents and the American people. We will get through these trying times together.  

 

Sincerely,

 

Wm. Lacy Clay

 

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