March 26, 2020 at 12:11 PM EDT – Updated March 28 at 2:19 PM
(CNN) – If you’re a single U.S. resident and your adjusted gross income is $75,000 or less, you will get a $1,200 check from the U.S. government.
The more you earn, the less you will get. You get nothing if you make $99,000 a year or more.
That’s based on the $2 trillion coronavirus outbreak stimulus bill that was signed into law by the president on Friday.
The income levels are based on tax returns for 2019. For those who have not yet filed their taxes this year, it will be based on 2018 returns.
For married couples, you will receive $2,400 if you make a combined $150,000 or less. People making above that will receive a lesser amount on a sliding scale up to people who make $198,000 or more, who will not receive money.
Parents with children who are 16 years old and younger will receive $500 per child. That also phases out for people with higher incomes – single parents who make $109,000 or more and couples making $208,000 or more will get nothing.
If you are on unemployment assistance, you will get another $600 per week on top of the amount your state already pays. That extra amount is available for up to four months.
Gig workers, like Uber drivers and Amazon Flex delivery drivers, are going to be eligible to apply for benefits as well, although it is not yet clear how much they can get.
It has not been determined when the money will be sent to people. President Donald Trump and the treasury secretary have been pushing to get it sent by early April, but estimates based on previous stimulus packages suggest payments may not go out until May.
According to The Washington Post, people on Social Security benefits, including retirees and people on disability assistance, also will get money. They must meet the same income requirements as everyone else.
Payments will be made by direct deposit, based on tax return information, or by check.
Approximately 125 million people will receive a payment, or about 83 percent of tax filers. The Post article also includes a stimulus payment calculator.
Copyright 2020 CNN. Gray Media Group, Inc. contributed to the report. All rights reserved.
