Am I eligible?
If you are an individual who earned less than $75,000 or a couple filing taxes jointly that earned less than $150,000, you are eligible for the full amount. The payment for individuals falls by $5 for every $100 in income above $75,000. Similarly for joint filers, the payment falls by $5 for every $100 in income above $150,000. Individuals who earn more than $99,000 or joint filers who earn more than $198,000 are not eligible for the direct payment program.
When will payments be distributed?
The Treasury Department aims to start sending payments in early April. Unfortunately, there isn’t an exact date when to expect payments; the Treasury Department said it aims to have direct deposit processed by April 6th.
How will I receive my payment?
If you filed your 2019 taxes and included a bank account on file for direct deposit of your tax return, you will receive a direct deposit payment for the COVID-19 rebate. If you have not yet filed your 2019 taxes, the IRS will use information from your 2018 tax return. Those people who did not include direct deposit information will receive a check mailed to their last known address by the IRS.