Direct financial relief for eligible Americans
Every eligible American will receive a one time rebate via direct deposit or check. For the vast majority of Americans, no action on their part will be required to receive a rebate check since the IRS will use a taxpayer’s 2019 tax return if filed, or their 2018 return if they haven’t filed their 2019 return. Here are the basics: All U.S. residents or citizens with adjusted gross income under $75,000 ($ 112,500 for head of household and $150,000 married), who are not the dependent of another taxpayer and have a work-eligible Social Security Number, are eligible for the full $1,200 ($2,400 married) rebate.
They are also eligible for an additional $500 per child.
Individuals with no income, or only Social Security income, are also eligible.
The amount given is only reduced for higher income earners, starting at $75,000 for individuals, $112,500 for head of household, and $150,000 for married couples.
It phases out completely at $99,000 for individuals and $198,000 for married couples.
Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive a rebate. Instead, payments will be automatically deposited into their bank accounts.
More detailed information about these direct payments, courtesy of the U.S. Senate Finance Committee can be seen at https://www. finance.senate.gov/chairmansnews/cares-act-recovery-checkfaq and https://tomgraves.house. gov/coronavirus/faq-financialrelief-for-eligible-americans.htm.