TAMPA, Fla. — Assistance checks from the coronavirus federal relief bill are on the way, according to the IRS, with the first batch of payments sent late Sunday night.
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The typical taxpayer can expect a stimulus check of $1,200 for an individual filer, or $2,400 for a married couple.
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For each child claimed on taxes, the IRS is sending an additional $500.
The money probably won't go far for people who are behind on mortgage or rent payments this month -- on top of other bills possibly not being paid.
Steve Ribble with Guardian Accounting Group in Tampa says staying as up-to-date as possible on currently monthly bills will lessen problems later this year with high interest rate payments, foreclosures, or evictions.
"It doesn't mean you just want to go out and blow the money," Ribble said. "It means you probably want to prioritize your spending right now -- what's essential, what's not essential. And if you're behind on your rent or whatever, try to get caught up with this money. Be very, very diligent with it and understand it has got to last you through this difficult period."
If you are already planning ahead with your stimulus check from the government, you can use a CNN online calculator to determine what the IRS will be sending you based on your income and any dependents 17 years old and younger.