There’s a good chance you’ve already heard about the individual stimulus payments, since talk of a stimulus check has been all over the news. But here’s a quick refresher.
The government is sending direct payments to Americans as part of its coronavirus relief efforts.
To qualify, you’ll need to have filed taxes in 2018 or 2019. Your income matters too. If you earn more than $99,000 in gross income as an individual, $146,500 as a head of household, or $198,000 as a jointly filing couple, you won’t be getting money. (Sorry.)
For those who do qualify, individual taxpayers will get $1,200. (Married couples will get $2,400.) You also get $500 for dependents under the age of 17.
Note that those numbers can change based on your income. If you earn over $75,000 individually or $150,000 as a couple, your stimulus payment will be lower.
The IRS will either directly deposit money in your bank account or send you a check.