How Much Money Will One Get?
|Criteria||Stimulus Amount||Income level limitations||Basis of the payment||How would you receive the payment|
|Single person making $75K or less||$1,200||Amount is reduced above $75 and phases out at $99k||2019 Adjusted gross income (Line 8b. on form 1040 on personal return).||You will receive the money directly in your bank account with the IRS.|
|Married couple making $150K or less||$2,400||Amount is reduced above $150K and phases out at $198K||2018 Return if you have not filed 2019.||If the IRS does not have your account info, call the number on the notice you will receive from the IRS|
|Each child under 17-year-old||$500||Make sure you have one of these 2 returns filed.|
Where Will The IRS Get One's Information?
Do people need to apply to receive money?
Line 8b on Form 1040 (for tax year 2019)
Line 8b on Form 1040-SR (for tax year 2019)
Line 7 on Form 1040 (for tax year 2018)
Line 21 on Form 1040A (for tax years before 2018)
Line 4 on Form 1040EZ (for tax years before 2018)
Line 35 on Form 1040NR