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What does the economic stimulus in the US include? because of the pandemic? 2:35
(CNN) - The federal government has yet to issue a single stimulus check seeking to mitigate the coronavirus crisis, but scammers are already trying to steal money from Americans.
These criminal efforts are leading the Federal Bureau of Investigation, several state attorneys general, and other agencies to warn Americans not to fall for phone calls, text messages, emails, or websites that request personal or financial information to receive the federal payment of $ 1,200.
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"If someone claims to be from the government with a check for you, it may be a phishing scam that they are illegally trying to get your bank account or other personal information," New York Attorney General Letitia James said in a statement Saturday.
"Don't pay anyone who promises they can speed up or get a payment or loan for you," James continued. "If you are eligible for aid, you will not need to make any advance payments or pay any fees to receive a stimulus payment."
Most Americans will receive up to $ 1,200 per person in the coming weeks, as part of a landmark $ 2 trillion stimulus package that President Donald Trump signed on Friday. Parents will receive up to an additional $ 500 for each child under the age of 17.
Payments will gradually begin to disappear for people with adjusted gross income of more than $ 75,000. The amount will be reduced by $ 5 for each additional $ 100 of adjusted gross income, and those who earn more than $ 99,000 will receive nothing.
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Income thresholds are doubled for couples. About 90% of Americans are eligible for a full or partial check, according to an estimate from the Fiscal Policy Center.
Treasury Secretary Steven Mnuchin told CNBC on Thursday that Americans will begin receiving the money within three weeks, but tax experts say the Internal Revenue Service could take longer to process the payments.
Those who file their tax returns electronically and provide the IRS with their bank information will likely receive their payments sooner through direct deposit. About 88% of individual returns were filed electronically in 2018.
Paper checks are expected to take longer to be mailed.
The IRS specifies on its website that registration is not required and that no calling is necessary. The agency will post additional information, when available, at http://www.irs.gov/coronavirus.
The stimulus law specifies that recipients will receive a notice in the mail no later than 15 days after the payment was distributed, indicating the amount of money sent, the method by which it was delivered, and a telephone number to call the IRS if the funds did not arrive.
covid-19