Here is a quick look at how much to expect from the stimulus:
- Individuals earning less than $75,000 receive $1,400.
- Married couples earning less than $150,000 a year will receive $2,800 -- and families with children are eligible for an additional $1,400 per dependent.
- Heads of households earning less than $112,500 a year will receive $1,400 plus another $1,400 per dependent.
The income thresholds will be based on a taxpayer's most recent return. If they've already filed a 2020 return by the time the payment is sent, the IRS will base eligibility on their 2020 adjusted gross income. If not, it will be based on the 2019 return or the information submitted through an online portal set up last year for people who don't usually file tax returns.
If you are unemployed, you can expect an additional $300 per week through September 6.
Spend wisely!
