Most taxpayers are eligible to receive a stimulus payment. The payments are automatic, and no further action is needed to receive the payment.
The amount, however, will vary based on filing status, the number of dependents and adjusted gross income (AGI). Individuals or head of household filers will receive $1,200, while married taxpayers filing jointly (if they aren’t a dependent of another taxpayer) will receive $2,400. Taxpayers will receive up to $500 per dependent claimed on their federal tax returns in 2018 and 2019.
Stimulus payments are based on the AGI claimed by the filer. Taxpayers will receive the amounts listed above if they have a work-eligible Social Security number and adjusted gross income up to:
- $75,000 for individuals
- $112,500 for head of household filers
- $150,000 for married couples filing joint tax returns
Taxpayers will receive a reduced payment if their AGI is:
- $75,001 and $99,000 if their filing status was single or married filing separately
- $112,501 and $136,500 for head of household
- $150,001 and $198,000 if their filing status was married filing jointly