Americans are eagerly awaiting stimulus checks from the government as part of the massive coronavirus relief package the president signed into law last Friday.
These “recovery rebates” will pay up to $1,200 per person, plus an extra $500 per child to parents and they’re completely tax-free. But not everyone is entitled to a stimulus check.
The Urban Institute and Brookings Institution’s Tax Policy Center estimates that nine in 10 households will get some payment.
Here’s who doesn’t qualify
1. Individuals with incomes above $99,000, or single parents with incomes above $136,500
The size of each stimulus payment is based on the adjusted gross income (AGI) listed on your 2019 tax return. If you haven’t filed yet, it will be based on your 2018 return. The IRS will reportedly still issue payments to those who didn’t earn enough to file a tax return in the last two years, though it’s unclear what that process will entail.
The maximum payment is $1,200 for single filers with an AGI below $75,000 or single parents (head of household filers) with an AGI below $112,500. Married couples with no children who file jointly and have an AGI below $150,000 will get a total of $2,400 (double the maximum individual payment).
The $1,200 payment will begin to phase out at a rate of $5 for each $100 over the AGI threshold before ceasing at an AGI of $99,000 for single filers, $136,500 for heads of household (single parents), and $198,000 for married filers with no children.
Bear in mind that the stimulus payment is technically a tax credit to apply to your 2020 tax bill that the government is providing ahead of time. Since the IRS only has past tax returns to go off of, there are bound to be clerical errors.
For instance, if your past income disqualifies you for a stimulus payment but your earnings are below the qualifying threshold in 2020 which is likely the case for people who suddenly lost their jobs or had their hours reduced due to the coronavirus you won’t get payment right now, but you may be able to reconcile that on next year’s tax return.
2. Dependent children over 16
Parents who have a Social Security number will receive $500 for each child aged 16 or younger. There is no limit on the number of children that qualify.
If you have a dependent child who is 17 or 18 years old, they don’t qualify for the $500 payment.
3. Dependent adults
Any person over the age of 18 who is claimed as a dependent on another person’s tax return is not eligible for an individual or child stimulus payment.
That means college students aged 19 to 23 whose parents pay for more than half of their expenses and claim them on their tax return won’t be getting payments. Likewise, disabled adults or elderly folks who are claimed as a dependent on a family member’s tax return are not eligible.
4. Anyone without a Social Security number
In order to get a stimulus payment, you need to have a Social Security number. The Social Security Administration issues Social Security numbers to all citizens, permanent residents, and some noncitizens who are authorized to work in the US.
If a couple of files jointly but only one person has a Social Security number, neither will be eligible for a stimulus payment, except in the case of military families, according to the Tax Policy Center.
Rev. Obofuor Under Fire As A Businessman Drags Him To Court For Defrauding Him Ghc 190,000
Founder and general overseer of Anointed Palace Chapel, Rev. Obofuor has been dragged to Accra High court by a businessman for defrauding him in the tune of Ghc 190,000.
Charles Frimpong, claims he had a power plant deal with the man of God which costs Ghc 70,000 which he did not pay upfront but requested another one be brought to him, taking his bill to Ghc 140,000. He said that Obofuor again requested for a transmitter which cost Ghc 90,000, bringing his total bill to Ghc 230,000.
Out of the total amount owed, Charles claims that the pastor has paid only Ghc 40,000 and has refused to pay the rest of the amount owed ie Ghc 190,000. The court is yet to pronounce judgment on the case.
WATCH The Emotional Moment American Protesters Sing Burna Boy’s ‘Ye’ Song As They March For George Floyd
The black communities in America are still marching in all the 50 States to demand justice for George Floyd. In the new footage, the charged protestors can be seen in a video singing Burna Boy’s ‘Ye’ in a manner that will definitely give you goosebumps.
George Floyd was killed in the Powderhorn community of Minneapolis, Minnesota On May 25, 2020, after a white cop knelt on his neck while he was handcuffed and struggling for breath.
Most of the demonstrations over the past eight days have been peaceful, except isolated cases of clashes with the police in some areas. Meanwhile, all the white officers who contributed to the death of George Floyd have officially been charged.
Minnesota Attorney General Keith Ellison is increasing charges against Derek Chauvin to 2nd degree in George Floyd’s murder and also charging other 3 officers. This is another important step for justice.
— Amy Klobuchar (@amyklobuchar) June 3, 2020
Watch Americans were spotted singing Burna Boy’s hit track “Ye” while walking on the streets with placards that read “Black Lives Matter.“
— OneMusicNaija (@onemusicnaija1) June 4, 2020
Tourism Sector Records $171 Million Loss During Coronavirus Pandemic : Minister
The tourism and hospitality sectors have recorded a $171 million loss in revenue due to the adverse impact of coronavirus.
Minister of Tourism, Culture and Creative Arts, Barbara Oteng-Gyasi, made this known to the media on Thursday, June 4, 2020, at the Information Ministry’s press briefing.
She was outlining the guidelines for the easing of restrictions in the tourism and hospitality sectors.
According to her, the loss was recorded from March 2020 to June 2020.
She the amount was arrived at after doing a detailed calculation of tourists spent over the years.
She says in 2018, spending per tourist amount to $2,781.
In 2019, spending per tourist was $2,931 in 2020.
Those spendings, she says, have been lost in 2020 due to the pandemic.
According to her, such monies were spent on hotels, buying food, going to beaches, among others.
She indicated that the coronavirus pandemic has had a negative impact on Ghana’s tourism and hospitality sectors.
However, she indicated an amount of $4 million has been earmarked for the redevelopment of tourism sites and destinations in Ghana.
Additionally, $5 million has been budgeted for tourism sites supports, she told the media.
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