Fwd: More Fun ($$$) to Come - STIMULUS PAYMENTS
צבי ותמר שרף
מאת: Jeff S. Melamed, CPA <jmela...@bezeqint.net>
Date: יום ה׳, 26 במרץ 2020 ב-23:25
Subject: More Fun ($$$) to Come - STIMULUS PAYMENTS
To: Jeff S. Melamed, CPA <jmela...@bezeqint.net>
Cc: <msa...@gmail.com>, <joshsa...@gmail.com>, <dsa...@walla.com>, <sylvi...@gmail.com>, <lmsa...@gmail.com>, <eitan...@lingotip.com>, <jdsa...@neto.net.il>, <tzvi...@gmail.com>, <marvls...@gmail.com>, <shansc...@gmail.com>, <zev...@gmail.com>, <aschk...@gmail.com>, <gloria...@aol.com>, <alsc...@gmail.com>, <Aaron....@insightexecutivesearch.com>, <amys...@gmail.com>, <don...@gmail.com>, <zlsc...@gmail.com>, <gitty...@gmail.com>, <schul...@gmail.com>, <sch...@schumanlaw.co.il>, <yebsc...@gmail.com>, <tz...@sls-lawyers.co.il>, <binya...@gmail.com>, <hend...@gmail.com>, <yigal...@gmail.com>, <'shl...@gmail.com'>, <irenesha...@gmail.com>, <shm...@bgu.ac.il>, <noy...@yahoo.com>, <sham...@yahoo.com>, <shoh...@yahoo.com>, <yussie...@gmail.com>, <dsh...@bezeqint.net>, <baty...@yahoo.com>, <michal....@gmail.com>, <shiras...@gmail.com>, <yls...@gmail.com>, <etti...@gmail.com>, <sara...@gmail.com>, <dan...@gmail.com>, <uris...@netvision.net.il>, <sher....@gmail.com>, <sher...@gmail.com>, <el...@malam.com>, <Linda....@weizmann.ac.il>, <dan.s...@gmail.com>, <yoavs...@gmail.com>, <bshi...@gmail.com>, <yaelsp...@gmail.com>, <alons...@gmail.com>, <orit_...@yahoo.com>, <Tova....@audiocodes.com>, <ari.sh...@gmail.com>, <x618...@gmail.com>, <pa...@shrellfox.com>, <daniel.s...@gmail.com>, <layish...@gmail.com>, <ooss...@gmail.com>, <yeshu...@gmail.com>, <msilv...@aol.com>, <jonathan....@gmail.com>, <ysilve...@gmail.com>, <dsi...@enativ.com>, <asimm...@gmail.com>, <sim...@aish.com>, <bys...@gmail.com>, <zoor...@zootorah.com>, <sh...@budget.co.il>, <Gil...@gmail.com>, <suzanne...@gmail.com>, <pirch...@googlemail.com>, <aryehso...@gmail.com>, <diane.s...@gmail.com>, <sprech...@yahoo.com>, <STEIN...@013.net>, <emailm...@gmail.com>, <shl...@gmail.com>, <rsus...@gmail.com>, <shlom...@gmail.com>, <stern...@gtlaw.com>, <syh...@yahoo.com>, <al...@jct.ac.il>, <baru...@yahoo.com>, <chaim...@gmail.com>, <talie...@gmail.com>, <meiras...@gmail.com>, <ga...@koshercasual.com>, <sarahs...@gmail.com>
You may have recently heard of STIMULUS PAYMENT checks to be mailed to U.S. citizens as part of the CARES (Coronavirus Aid, Relief & Economic Security) Act. Here are some initial FAQs, based on what we know as of now:
Q1: Are we (taxpayers residing in Israel) also eligible?
A1: YES, it appears that U.S. citizens residing abroad are indeed eligible for Stimulus Payments.
Q2: How much is being paid?
Q2: Maximum amounts are $1,200 per taxpayer ($2,400 per couple) + $500 per child under 17.
Actual amounts may be limited, based on your Adjusted Gross Income (AGI) - see below
Stimulus Payment amounts phase-out for Single filers with AGI between $75K-$99K, Joint filers with AGI $150K-$198K.
Q3: How will the STIMULUS PAYMENTS be made?
A3: It’s technically a 2020 tax credit, being paid in advance. For most U.S. citizens, NO ACTION IS REQUIRED to receive your payment. The IRS will use 2019 tax returns, if filed (or 2018 returns, if not), as the basis for STIMULUS PAYMENT amounts.
Qualifying recipients should receive payments in the coming weeks, IF already set up for direct deposit of tax refunds (if not, it may take a few months to receive a check in the mail).
BOTTOM LINE:
Subject to income limitations, the U.S. gov’t wants to pay U.S. citizens $1,200 per adult ($2,400 to married couples) + $500 per child under the age of 17.
Cheers,
Jeff S. Melamed, CPA
Tel 02-991-8812
Fax 02-991-8815
Cell 052-6922-007
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