Cares Act Stimulus Amount

The second stimulus checks would be phased out entirely for single people earning over 87 000 or married couples earning more than 174 000 compared with the cares act s phaseout for single. 1 eligible families receive an additional 500 for each child under the age of 17. The coronavirus aid relief and economic security act also known as the cares act is a 2 2 trillion economic stimulus bill passed by the 116th u s.

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This is based on 2019 adjusted gross income or 2018 agi if you haven t yet filed your 2019 tax return.

Cares act stimulus amount. Couples earning up to 150 000 will receive 2 400. Single people earning over 87 000 the second round of checks will have the same type of income phaseouts as in the cares act with the stimulus check payments reduced for earnings above 75 000. Congress and signed into law by president donald trump on march 27 2020 in response to the economic fallout of the covid 19 pandemic in the united states.

The cares act sends a 1 200 stimulus check to eligible adults earning up to 75 000.

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