Stimulus checks: How much to expect and when

Those stimulus checks will soon be on the way to many of you.

The White House press secretary says people could start seeing direct deposits as early as this weekend.

It's just one chunk of a much larger bill.

The thickness of a dollar is a fraction of an inch.

$1 million stacked up would reach the top of Milwaukee City Hall.

$1 billion would be 67 miles. That’s from Milwaukee to Fond du Lac.

And $1.9 trillion stacked up would reach from here —halfway to the moon.

Part of that, people making less than $75,000 will get $1,400 checks. Couples making less than $150,000, you'll get $2,800, plus $1,400 per dependent child.

"I can either save it again, build up my emergency fund, or a lot of people are deciding to throw it t in to the stock market right now," MSOE senior James Splingaire said.

The bill leads tax preparers to scramble.

"Several hundred clients we’ve identified as we’re going to have to go back and contact them and have a discussion about how this impacts them," said Jason Rose of Acc-u-rite Tax Service.

One reason, the new law retroactively applies to many people who last year claimed unemployment.

"If your income is below $150,000, you can exclude up to $10,200 dollars of that unemployment income from being taxed. Which is a huge benefit because, with less income, you’re going to end up with more money back in your pocket. It also could have a ripple effect on their tax return, where you may qualify for some credits, that you did not qualify for before," Rose said.

Here at Buck Bradley’s Saloon they’re hopeful about people having that extra cash.

"More money in people’s pockets. They’re more likely to come on out. And that definitely helps all these businesses. and when i do get reopened, it will definitely help me," owner Wally Paget said.

Republicans say the plan is wasteful, untargeted to those truly in need and includes a liberal wish list.

The IRS will use your 2020 taxes to determine your eligibility and to figure out how much you'll get. If you haven't filed, yet, then they'll look at your 2019 taxes.

If they have your bank info, they'll send the money electronically. Otherwise, they'll send paper checks or debit card.

Open Record: Relief package passed

What does a $1.9 trillion dollar relief bill mean for the country, Wisconsin, and your family?

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