(For detailed information, please visit the IRS Economic Impact Payment Center)
You are eligible if you are:
- U.S. citizens or resident aliens who:
- Have a valid Social Security number,
- Could not be claimed as a dependent of another taxpayer, and
- Had adjusted gross income under certain limits.
Overview:
- $1,200 payment for single individuals with income up to $75,000; $2,400 payment for married filing jointly up to $150,000. Based on most recent tax return, 2018 or 2019.
- Additional payment of $500 for each “qualifying child” -which will generally mean a dependent age 16 and under by end of 2019.
What do you think?