The US House of Representatives passed an unprecedented $2 trillion economic stimulus measure Friday that's intended to prop up a US economy hit hard by ongoing COVID-19 reaction. What does that mean for you? Most American households will receive checks - $1,200 for individuals and $2,400 for married couples - another $500 for each dependent under 16-years-old. Amounts decrease until they reach zero for individuals making $99,000 or childless married couples earning $198,000. Your 2018 or 2019 tax returns will be used to estimate the payments. Payments should be seen within about three weeks. Treasury Secretary Steven Mnuchin said the White House wants the payments distributed by April 6.
Additionally, Americans with children will get an additional $500 per child under 17.
Who doesn't get a check?
Single adults who make more the $99,000 and married couples who earn more than $198,000 won’t receive stimulus checks.
Those without a Social Security number and nonresident aliens — those who aren’t a U.S. citizen or U.S. national and don’t have a green card or have not passed the substantial presence test — aren’t eligible.
You’re also ineligible if your parents claim you as a dependent on their taxes.
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