One of the most critical elements of the CARES Act is the plan to distribute stimulus checks to many Americans. We've compiled all of the most important information regarding these payments and how they affect you.

1. Am I eligible? According to the IRS website, the following individuals are eligible to receive these Economic Impact Payments.

• Taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees with adjusted gross income up to:
  • $75,000 for individuals
  • $112,500 for head of household filers and
  • $150,000 for married couples filing joint returns
• Taxpayers will receive a reduced payment if their adjusted gross income is between:
  • $75,000 and $99,000 if their filing status was single or married filing separately
  • $112,500 and $136,500 for head of household
  • $150,000 and $198,000 if their filing status was married filing jointly
• Eligible retirees and recipients of Social Security, Railroad Retirement, disability, or veterans' benefits as well as taxpayers who do not make enough money to normally have to file a tax return will receive a payment. This includes those without income or whose income comes entirely from benefit programs, such as Supplemental Security Income benefits.

2. What is required to receive payment? No additional action is required if you have:

• Have filed your tax returns from 2018 or 2019,
• Receive social security,
• Recieve railroad retirement, or
• Receive Social Security Disability Insurance (SSDI)

 If you don't have to file taxes, but are still eligible to receive the Economic Impact Payment, click here for the Non-Filers: Enter Payment Info application.

3. How will the payments be paid? Recipients will receive their Economic Impact Payment as direct deposit or by paper check, just as they would normally receive their tax refund or benefits.

4. When can these payments be expected? The IRS will begin distributing payments this week. The IRS will mail a letter with more information about the economic impact payment to the recipient's last known address within 15 days after the payment is paid.

Beware of Scams Related to COVID-19 and Economic Payments

The IRS will never contact you asking for your personal or account information. Remember, if you filed your taxes in 2018 or 2019 or you receive social security or railroad retirement benefits, you do not need to take any action.

For more information regarding these payments, please go to: irs.gov/coronavirus/economic-impact-payments.