Eligible Minnesotans May Have More Stimulus Money Coming
This last year has been very hard on basically everyone. As far as how hard you were hit financially varied to different degrees depending on if you were able to keep your job or not. The issues are continuing even as some areas have been able to open back up. The repercussions of the lockdown have really hurt many people and businesses.
There have been two separate stimulus checks that have gone out to eligible Minnesotans over the last year. The first one was $1200 and the second one was $600 that just came out over the last few weeks. Many were saying that wasn't nearly enough to help and make a dent in the deficit that has been created from shutdowns and unemployment.
The $600 was down from the $2000 that was requested. That amount had passed through the House and was knocked down in the Senate. But now it seems that is back on the table. So, hopefully, this will go through this time. One problem I do see... where is this money coming from? And will you be taxed on this cash? They said no... but I have my doubts.
I have heard comments asking why is this stimulus amount only $1400 as opposed to the $2000 that was discussed. Well, it's because you already got the $600, so this would bring that amount up to $2000. That how that works, so no, you are not getting "ripped off" as I have heard some people mention.
The eligibility requirements are expected to be the same as they have been for previous stimulus requirements. Going off of your 2019 tax return, if you made $75,000 or less as a single or $150,000 or less as married you will receive the stimulus money. If you have gotten direct deposit before, it will be the same.