Income Limit On First Stimulus Check

Married joint filers with an agi of up to 150 000 are eligible to receive a total of 1 200.

Income limit on first stimulus check. That applies to anyone whose reported adjusted gross income for tax years 2018 or 2019 was at least. Congress has approved two rounds of stimulus checks. The first round included a 1 200 payment from the coronavirus aid relief and economic security cares act which was signed into law last march and now president trump has signed a second 900 billion economic relief package on december 27 that includes another stimulus check paying up to 600 per person.

For the first round of payments the total amount of your stimulus check was based on your adjusted gross income or agi from your 2019 federal tax filing or if you haven t filed this year your. As with the first direct payment under the cares act the income limits. Not only is the second round of coronavirus stimulus checks worth less than the first payment but the income limits are also less generous than they were under the coronavirus aid relief and.

99 000 for individuals and married couples filing separately. That s because a sliding scale built into the stimulus check formula used by the irs gives you the full amount up to a certain income limit and then a partial payment up to a set amount beyond. Adults with incomes between 75 000 and 99 999 told the census that they would most likely pay off debt or add to their savings.

Income limits for stimulus checks you are ineligible for stimulus payment if you earn more than the income limit. In the first round of stimulus checks payments phased out at 136 500. If you qualify for a stimulus check your stimulus check may be less than 1 200 because if you have higher adjusted gross income the amount of your check can be lower due to the phase out.

People earning up to 87 000 and couples earning up to 174 000 would get a stimulus check. To get the full 600 amount a person can t earn more than 75 000 in 2019 or 150 000 for couples.