Area residents set plans for stimulus checks
Locals hope to spend money in their hometowns
BIG RAPIDS — As area residents temporarily lose their jobs — and a steady income — due to the coronavirus, a stimulus check, otherwise known as "the economic impact payment," may be making its way to their accounts soon.
Announcing via news release on the IRS' web page Monday, the Treasury Department and the Internal Revenue Service have announced that a distribution of stimulus checks will be sent to residents in need.
"Distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people," the release stated. "However, some taxpayers who typically do not file returns will need to submit a simple tax return to receive the economic impact payment."
According to the IRS' website, individual tax filers with an adjusted gross income up to $75,000 will receive the full payment of $1,200, and married couples filing jointly with an adjusted gross income up to $150,000 will receive a full payment of $2,400, with up to $500 for each qualifying child.
While there are many residents looking forward to using the money to pay bills, Paris resident Justin Csernai plans to use some of the money he'll be receiving to impact his local community.
"My first initial thought was it is nice to be getting a check because who doesn’t want extra money, but I also thought there are other folks out there that could honestly use it more than me," Csernai said.
"Based on the plan, as I understand it, my wife and I will get the max amount per person as well as the amount for one child. I honestly don’t plan to spend much of it. Most of it we are saving as we have a little one on the way, but I do plan to spend some at the local shops that are still open in town."
Believing the economic impact payment will help many residents who are experiencing layoffs, Csernai's says his heart goes out to healthcare workers and first responders who are in the face of this pandemic.
"My concerns as a whole are when looking at the entirety of the bill that was passed and wondering are we doing enough for our healthcare workers and first responders on the front lines of this pandemic," he said. "I’m also concerned with how we are going to tackle the federal deficit after this is all said and done.
"My family is fortunate enough to not be hurting financially because of this pandemic so far. But the longer this goes on, I worry about our economy as a whole."
Canadian Lakes resident Sheila Nero will also be using her money to help impact the lives of others, as she said she hasn't been personally affected by the coronavirus as of yet, noting since she is a Social Security recipient, she doesn't feel she should receive the money.
"Our Social Security and pensions weren't affected," Nero said.
"I don't feel the formula for distribution is 100% fair, but understand that it's the quickest and easiest way to do it. It will be a huge help to responsible people."
Estimated to receive $1,200, Nero said she will be giving the money away.
"I haven't decided if it will go to food pantries or if I'll distribute it to workers at local restaurants," she said.
For more information regarding the economic impact payments, visit irs.gov/coronavirus.