Coronavirus Recovery Relief

MyArgentina

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Not sure how many BAE members file US taxes, but this is a timely piece about how to receive substantial Coronavirus Relief - US Expats included.


US Expats Eligible For Coronavirus Recovery Rebate
Under the CARES Act due to be passed later today, Americans living abroad are eligible to receive the Recovery Rebate alongside Americans in the US. The Coronavirus Aid, Relief and Economic Security Act passed the Senate by...
Friday, March 27th 2020, 7:55 PM EDT

Under the CARES Act due to be passed later today, Americans living abroad are eligible to receive the Recovery Rebate alongside Americans in the US.
The Coronavirus Aid, Relief and Economic Security Act passed the Senate by 96-0 on Wednesday after negotiations between the Republicans and Democrats over the details.

Among other measures, CARES provides a Recovery Rebate to help Americans struggling financially due to the Coronavirus outbreak.
https://www.wrcbtv.com/story/41947962/breaking-us-expats-eligible-for-coronavirus-recovery-rebate#
The rebate is worth $1,200 per adult (so $2,400 for a couple), and $500 per dependent child under 17 years old.
To qualify, expats have to have a US social security number, and file US taxes.

The US tax system requires all Americans to file US taxes, reporting their worldwide income, whether they live in the States or abroad. When expats file, they can claim measures such as the Foreign Tax Credit and the Foreign Earned Income Exclusion that mean that most don’t end up owing any US tax, although they always have to file.

The Recovery Rebate is available for all Americans, including expats, who earn up to $75,000 (or $150,000 for married couples). The rebate slowly phases out for Americans who earn over these amounts.

Monte Silver, the world-renowned US expat advocate and international tax attorney, said: “For decades, each tax reform has resulted in Americans abroad getting hit by one tax and disclosure law after another. While all are intended to prevent abuse by multinational corporations and tax cheats, these laws have had drastic effects on the expat community. Now, for the first time in decades, the U.S. government has paid attention to expats, acknowledging that we too were suffering in this crisis and deserve relief.”
 
Under the CARES Act due to be passed later today, Americans living abroad are eligible to receive the Recovery Rebate alongside Americans in the US.

The rebate is worth $1,200 per adult (so $2,400 for a couple), and $500 per dependent child under 17 years old.

To qualify, expats have to have a US social security number, and file US taxes.

Based on what I read on line and/or heard in a news report (I don´t have the links), expats who receive Social Security payments and are not required to file US federal tax returns because their annual income falls below the threshold for requring to file should automatically receive a "Recovery Rebate" which will be deposited to the same account in which they receive their monthly SS payments (provided they were receiving monthly benefits in 2018).
 
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I just checked my USA account online for my monthly Social Security deposit which is always posted at the end of the month. No deposit was made.
 
the government announced it would take approx 3 weeks to get the money out.
 
oh. i thought this was about recovery rebate. it will be sent to the same account.
 
one side note, with the same bailout package, if you live in my state and file for unemployment, you will receive 846.00 per week for 4 months. wonder who’s paying for it. 6.2 trillion package. starts with 2.2 trillion for business’s and people and another 4 trillion for the repo market and buying bonds. can’t make this up.
 
from what I read, every American living abroad and receiving or not Social Security, is also entitled to receive the $1,200 free

Here's the link to the New York Times article:

 
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