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The income limits for stimulus eligibility will depend on your tax filing status as follows.
Stimulus amount by income. If you are married and file jointly and your combined income is less than 150 000 a year then you will receive the full 1 200 stimulus or 600 per person plus 600 for any dependents you may have. To get the full 600 amount a person can t earn more than 75 000 in 2019 or 150 000 for couples. Eligible individuals can receive a stimulus check of up to 600.
President elect joe biden presented on january 14 a new 1 9 trillion coronavirus relief package that includes a third round of stimulus payments up to 1 400. Under the cares act the 1 200 payments for individuals phased out at an income of 99 000 and the 2 400 payments for couples phased out at a combined income of 198 000. Couples who file joint tax returns can receive up to 1 200.
How to use the 1 200 stimulus calculator the cares act allowed americans to claim child dependents for 500 each as long as they re 16 years old or younger that is under 17 years old. If you are a single filer and have an adjusted gross income greater than 75 000 you can determine your exact payment amount by performing the following calculation. Families with children under age 17 can receive an additional 600 per child.
Check amount 600 agi. The size of both stimulus checks depend on your adjusted gross income agi and tax filing status.
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