What S The Maximum Stimulus Amount

However there is a maximum income threshold and your stimulus check amount phases out gets reduced by 5 for every 100 above certain income levels based on your tax filing status.

What s the maximum stimulus amount. The maximum individual stimulus check is 1 200 to get the maximum payment of 1 200 not including the extra 500 per qualifying child the agi on your 2018 or 2019 tax return whichever you. The stimulus check amount phases out by 5 for. Eligible individuals can receive a stimulus check of up to 600.

As part of the cares act a 2 2tn relief package passed in march individuals earning up to 75 000 were given a stimulus check officially known as an economic impact payment of 1 200. Families with children under age 17 can receive an additional 600 per child. In addition individuals with an income of up to 75 000 would receive 1 200 with reduced amounts for anyone who made more than that.

There are income restrictions. 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. The total check amount that would be allowed on a per household basis is 6 000.

Fast forward to the 600 maximum amount in the second check. Couples who file joint tax returns can receive up to 1 200. If you earn more than 75 000 as an individual or 150 000 as a couple the total amount you re eligible to receive starts to decrease.

The size of both stimulus checks depend on your adjusted gross income agi and tax filing status. The cutoff remained 75 000 to receive the total but using the formula laid out in the text of the bill the threshold to receive any. What if my income is below the maximum income amount but higher than the income levels that get the full 1 200 stimulus check.

14 biden outlined a stimulus package proposal and backed a third stimulus check for up to 1 400 per adult. This is clearly less than the 2 000 last ditch effort in late december and the.