How much will I receive from the stimulus bill? – CNN, CNN

(CNN) Congress just passed a $ 2 trillion stimulus bill to address the growing economic crisis caused by the coronavirus pandemic.

Included are direct payments to many Americans. Individuals are eligible for up to $ 1, 200 and couples would receive up to $ 2, 460 – plus $ per child.

But the payments would start phasing out for individuals with adjusted gross incomes of more than $ 99, . The amount would then be reduced by $ 5 for every additional $ of adjusted gross income, and those making more than $ 99, would not receive anything. The income thresholds are doubled for married couples.

Income would generally be based on one’s or 2020 tax returns.

The money will likely be deposited directly into individuals’ bank accounts – as long as they’ve already authorized the IRS to send their tax refund that way over the past two years. If not, the IRS would send out checks in the mail.

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