How to Calculate Your Government Check


As part of the bill Congress is expected to pass this week, many Americans will receive a direct payment, via a check, from the American government. But just how much will each family get? Americans who make below $75,000 will get $1,200, plus $500 for each child under 17. But where it gets tricky is for those who make more than $75,000: The check amount is reduced by $5 for each $100 in income over $75,000. Another concern? The amount is calculated based on a person's 2018 tax return (or 2019, if available). If someone would be eligible now, but wasn't eligible in 2018, the IRS has said they will credit the tax return this year. The government plans to start paying Americans in as soon as three weeks Read more here.https://www.latimes.com/politics/story/2020-03-26/how-big-will-your-government-check-be-for-the-corornavirus-figure-it-out-here-plus-other-common-questions