Who is eligible for the economic impact payment?
The Internal Revenue Service announced on 30th March that for the economic impact by coronavirus, there will be the amount 500 billion economic impact payments distributed to people. Below is the brief summary to check if you’re eligible for the economic impact payment depends on your adjusted gross income and your filing status.
$75,000 < individuals < $99,000, the full payment is up to $1200
$150,000 < couples filing joint returns < 198,000, the full payment is up to $2400
Parents also receive $500 for each qualifying child (up to 2 children)
However, the USCPA Sophie Luo (羅霞) reminds you that if you didn’t file the tax return for 2018 or 2019 tax year, even you meet the AGI and filing status, you’re still “not” eligible for the economic impact payment.
If you don’t know whether you’re eligible for the economic impact payment or if you need any help to file your tax return. Welcome to contact us at the USCPA Sophie Luo (羅霞) +886 4 22520309 or E-mail: ustaxproservice@gmail.com Also welcome to visit our website: https://www.ustaxproservice.com (USTAX Service LLC)