The Coronavirus Aid, Relief, and Economic Security act, or CARES Act, will be sending checks directly to most Americans. There's a lot of misinformation going around about where it's coming from, when we'll get it and if we have to pay it back.

The CARES Act is the largest relief package in history, and will allocate $2.2 trillion in support to individuals and businesses affected by the pandemic and economic downturn. As such, it can be a little confusing, especially with all the misinformation going around social media right now.

Let's start off on the big question: how much will you get?

Checks will be $1,200 per adult, or $2,400 for married couples filing jointly, and an additional $500 per child. That's for anyone earning less than $75,000 a year, and for every $100 above that, the stimulus check drops by $5.

To get this stimulus check, you need a valid social or adoption taxpayer identification number. We spoke to congressmen Mark Amodei today, who say's it should be soon.

"The direct checks from the IRS, the last update that I got was about three weeks, and that was last week," said Amodei.

Treasury Secretary Steven Mnuchin said that if you set up direct deposit for your taxes, it would come in sooner than the checks by mail.

Next question is, will I have to pay this back, and will it affect my 2020 tax return?

The short answer, no.

It's a little confusing, but this is called an 'advance payment on a new credit,' so it does not affect your tax refund for 2020. You won't lose out on your expected tax refund for 2020 with this check.

"This was designed to be a bridge through this time, and while we are not sure what that is yet, it's not going to be taxable income," said Amodei.

The CARES Act will also boost unemployment insurance by $600 a week, will make some changes to payroll tax, and will provide business loans for small businesses.

For more information, visit this link here.

For folks with questions about social security and disability beneficiaries, visit this Q & A here.

For information on how unemployment benefits will be affected, visit this link here.