**FOR EXAMPLE PURPOSES ONLY**
Bob is currently unemployed in Texas
due to COVID-19 reasons. He hasn’t filed his 2019 tax return yet.
His 2018 tax return was filed as single and his annual salary was
$30,000. His benefits will include:
Do I Qualify for the
COVID-19 Economic Relief Plan?
Any US Taxpayer that has income under $99,000, those who file as
“head of household” that has an adjusted gross income under
$146,500, and married couples filing jointly without children with
an adjusted gross income below $198,000 will receive a payment from
the COVID-19 Stimulus Package.
The Coronavirus Aid, Relief and Economic Security Act, which
President Donald Trump signed into law Friday (03/29/2020), says
taxpayers making up to $75,000 in
adjusted gross income will receive $1,200 payments and $500 for
each child. The same rules apply for married couples who file
returns under $150,000. Income that is higher
than these thresholds, the stimulus
payment amount starts to decrease.
How Much Do
Please note that this is an estimate
based on your income, you may or may not receive the full stimulus payment