The Economic Impact Payment

Here’s how much individuals will get from the Economic Impact Payments. Are you employed full or part time? Unemployed? A temporary or gig worker? Retired or disabled? Receive public benefits? Have no income? Most U.S. residents under certain income levels, will receive the Economic Impact Payment if they are not claimed as a dependent and have a Social Security number.

Here’s how much the payments will be:

• Eligible individuals will receive up to $1,200.
• Married couples (who are eligible) will receive up to $2,400.
• Individuals will receive up to $500 for each qualifying child.

Taxpayers will receive a reduced payment if their adjusted gross income is between:

• $75,000 and $99,000 if their filing status was single or married filing separately
• $112,500 and $136,500 for head of household
• $150,000 and $198,000 for married filing jointly

Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an Economic Impact Payment. Including those who receive social security retirement, disability (SSDI), survivor benefits or Railroad Retirement benefits (not claimed as a dependent on someone else’s return or required to file a tax return). Eligible taxpayers who have qualifying children under age 17 will need to provide information using the Non-Filers: Enter Payment Info tool to claim the $500 payment per child.

Please share this information with family and friends. Some people who normally don’t file a tax return may not realize they’re eligible for an Economic Impact Payment. If you have any questions please don’t hesitate to contact us!