COVID19 STIMULUS CHECK FOR INDIVIDUALS

$1,200 for individuals, $2,400 for couples, $500 per child

Under the draft bill, single Americans would receive $1,200, married couples would get $2,400, and parents would see $500 for each child under age 17.However, the payments would start to phase out for individuals with adjusted gross incomes of more than $75,000, and those making more than $99,000 would not qualify at all. The thresholds are doubled for couples.About 90% of Americanswould be eligible to receive full or partial payments, according to estimates by the Tax Policy Center. Lawmakers set aside $250 billion for the so-called recovery rebates.Qualifying income levels will be based on 2019 federal tax returns, if already filed, and otherwise on 2018 returns. (Mnuchin earlier this month delayed the filing deadline until July 15.)

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