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Under the CARES Act, United States residents will receive a $1,200 Economic Impact Payment for individual or head of household filers, and $2,400 for married couples who file jointly if they're not a dependent and have a work eligible Social Security number along with adjusted gross income up to:
- $75,000 for individuals
- $112,500 for head of household
- $150,000 for married and filing joint returns
The stimulus will be reduced for taxpayers if their AGI is between:
- $75,000 and $99,000 if your filing status was single or married filing separately
- $112,500 and $136,500 for head of household
- $150,000 and $198,000 if the filing status was married and filed jointly
If the payment is reduced, it will be based on the taxpayers adjusted gross income.
You can find more information about who is and isn't eligible for the stimulus check on the Internal Revenue Service's information center page: Economic Impact Payment Info Center
If you have any other questions, I'll be here to help you find an answer. Have yourself a wonderful day!
