With President Biden’s signing of the $1.9 trillion coronavirus relief package last week, Americans are expected to see money in their bank accounts in just a few weeks.
So who’s eligible to receive the one-time payment of $1,400? Individuals with an adjusted gross income of $75,000 or less, and couples with an adjusted gross income of $150,000 or less.
Married couples will receive $2,800 ($1,400 each). All dependents, regardless of age, are eligible for $1,400 each, but the payment will be sent to the person claiming the dependent on his tax return.
Americans who earn more than the aforementioned adjusted gross income are expected to get a partial check, but the money will be phased out. Those who earn $80,000 a year or more, and couples who earn $160,000 a year or more, are not qualified for the payment.
More information can be found here.
