These Are the Income Limits to Receive the $600 Stimulus Check
The second round of direct payments to Americans has more strenuous income limits than the CARES Act from March, according to CNBC.
The CARES Act from March gave $1,200 checks to individuals earning less than $99,000 or couples earning less than $198,000.
Individuals within these income limits will qualify.
- Individuals earning up to $87,000 will receive some payment.
- Couples earning up to $174,000 will receive some payment.
- Individuals that earned less than $75,000 in 2019 will get the full $600.
- Couples that earned less than $150,000 will also receive the full amount.
This round of checks is then reduced by 5% “for every dollar of income over those limits, or $50 for every $1,000 exceeding the phaseout threshold,” says Garrett Watson, senior policy analyst at the Tax Foundation. “Because this payment is smaller than the CARES Act rebate, the upper income bound to receive a partial payment is lower.”
Americans can also receive $600 for dependants under the age of 17.