5 Smart Ways to Use Your Coronavirus Stimulus Payment
Free money sounds amazing, except when it's prompted by a global pandemic and massive unemployment. If only we could get a check from Uncle Sam when times are good, right? But this is where we are, and if you make less than $99,000 as a single filer or $198,000 as a married filer, you should see some much-needed cash coming your way soon.
On March 27, 2020, President Trump signed a $2 trillion coronavirus relief package that includes, among other things, direct cash payments to more than 80% of American households. The highest payments will go to individuals making less than $75,000 annually -- this group will receive $1,200, plus another $500 per dependent child. The payment amount goes down by $5 for every $100 in income above $75,000, up to $99,000. And, the government will use your adjusted gross income on your most recently filed tax return to calculate your payment.
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Source Fool.com
