#Cousins,

Many of you woke up to your accounts a thousand dollars heavier this morning on behalf of the folks over at the Internal Revenue Services. For those that have yet to receive their government issued stimulus check or are worried about the stipulations that may or may not follow the disbursement of their “ free money”, we have the answers to all of your questions and more!

80 million American have been scheduled to receive their stimulus check today. If you haven’t received yours as of yet, there has been an easy to use automated tracking tool established to receive updates of your payment.

According to #YahooNews; your stimulus check will not be identified as taxable income, no matter the amount. Reports read: If you’re an individual filer and make less than $75,000 a year, you should see the full $1,200 in your bank account. If you’re a married filer, you should see $2,400 if you and your spouse make less than $150,000. If you have children, you should see an extra $500 for each child.

If you currently owe taxes, need not to worry the IRS will not garnish your stimulus check for back pay or student loans. If you are contacted by any form of organization stating such indication, please be aware that it is a scam. However if you do owe child support, then yes that money will be covered towards your debt.

It has been indicated that federal and state debt play by a different set of rules in which the bank may or may not snatch your stimulus check from your account. Yahoo Financial states, your check may be used towards paying off a private debt you have accumulated.

Yahoo Financial reports: If you have outstanding loans or owe bank fees, your bank could automatically take the money to offset those debts. Because the stimulus payments are categorized as refundable tax credits and not federal benefits, they can be garnished for debt. Congress made an exemption on garnishment for federal and state debt when it passed the CARES Act, and it also gave the Treasury the authority to write additional exemptions for private debt.

The American Prospect reports that it reached out to Wells Fargo, JPMorgan Chase, Bank of America, Citibank, and U.S. Bank about whether they would use the stimulus check to collect debts and fees. JPMorgan Chase said it would not use the money for negative balances on charged-off accounts, specifically. Wells Fargo has stated within a forwarded statement that it would be “pausing for 30 days the collection of negative balances existing at the time when stimulus payments are deposited.”