You likely qualify for an economic impact payment if:
- your filing status is single or married but filing separately, and you make less than $75,000;
- your filing status is head of a household, and you make less than $112,500;
- your filing status is married and you file jointly, and your combined income is less than $150,000;
- your income is above $75,000 as an individual or $150,000 as a joint filer, the payment amount is reduced by $5 for each $100; or
- you don’t typically file taxes and receive Social Security benefits from the Social Security Administration or Social Security Equivalent Benefits (SSEB) from the U.S. Railroad Retirement Board.
The majority of Americans will receive an economic impact payment that’s based on their income and the filing status on their 2019 tax return. If you haven’t filed your 2019 taxes, your 2018 return will be used to calculate the amount you’ll
Single or married filing separate
- If your adjusted gross income is below $75,000, you’ll receive the full $600. You will also receive $600 for each child under the age of 17 you claim on your taxes.
- If your adjusted gross income is above $75,000, you’ll receive an amount that will be reduced by $5 for every $100 in adjusted gross income above $75,000.
- Reduced checks will go out to individuals making up to $87,000 a year (down from $99,000 in the spring 2020.)
Head of household
- If your adjusted gross income is below $112,500, you’ll receive the full $600. You will also receive $600 for each child under the age of 17 you claim on your taxes.
- Reduced checks on a sliding scale are available for heads of household earning up to $124,500 annually.
Married filing jointly
- If your adjusted gross income is less than $150,000, you’ll receive the full $1,200. You will also receive $600 for each child under the age of 17 you claim on your taxes.
- If your adjusted gross income is above $150,000, you’ll receive an amount that will be reduced $5 for every $100 in adjusted gross income above $150,000
- Reduced checks on a sliding scale will go out to married couples who earn up to $174,000.
If you don’t typically file taxes because you’re not required to based on your income level, the IRS launched a web portal where Americans who did not file a tax return in 2018 or 2019 can submit basic personal information
to the IRS so that they can receive payments.
Also, if your 2019 adjusted gross income was less than $69,000, you may be able to find one or more online tools to file your taxes for free. Review each company's offer to make sure you qualify for a free federal return. Some companies offer free state
tax returns, but others may charge a fee.
There are a few additional cases in which you may not receive an economic impact payment, including if someone claims you as a dependent on their taxes, you have a non-resident alien status, or you’re filing on behalf of estates or trusts.
Most American adults are beginning to receive stimulus funds from the U.S. government. The amount of funds for each adult will vary based on a number of factors. Use this calculator published by the Washington Post to estimate your stimulus funds
Social Security beneficiaries
If you don’t file taxes but receive Social Security or SSEB benefits
Most Social Security retirement and disability beneficiaries, railroad retirees and those receiving veterans’ benefits do not need take any action to receive a payment. Earlier this year, the IRS worked directly with the relevant federal
agencies to obtain the information needed to send out the new payments the same way benefits for this group are normally paid. For eligible people in this group who didn’t receive a payment for any reason, they can file a 2020 tax return.
If you do file taxes and receive Social Security (or SSEB) benefits
If you receive Social Security (or SSEB) and do file your taxes because you receive additional income through a pension or another source, you’ll receive your economic impact payment based on your latest tax return and the income categories above. If you haven’t filed a 2019 tax return, it will be based on your 2018 tax return.
Visit www.IRS.gov for more information