Americans with little or no tax liability will now be able to receive $1,200 ($2,400 for joint tax returns) under the historic, $2 trillion economic recovery package.
Americans with little or no tax liability will now be able to receive $1,200 under the historic, $2 trillionThe original legislation had directed that one-time payments of up to $1,200 be made to most Americans who file individual tax returns but included a $2,500 minimum income threshold to earn any rebate. That meant that individuals with little income tax liability would have gotten a minimum of $600 .
A caveat: To qualify, they must have filed tax returns in either 2018 or 2019 or receive Social Security or veterans’ benefits so the Internal Revenue Service can calculate their rebate, said Garrett Watson of the Tax Foundation, a Washington-based think tank.
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