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    Stock Market News: Volatility Up 14% As Markets Fall

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Coronavirus stimulus cash: What is adjusted gross income?

Trade News by Trade News
March 28, 2020
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Coronavirus stimulus cash: What is adjusted gross income?
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President Trump officially signs the $2 trillion coronavirus relief bill in the Oval Office.

Get all the latest news on coronavirus and more delivered daily to your inbox.  Sign up here.

Many American households are expecting coronavirus-related financial relief from the federal government, after the president signed a massive spending package on Friday.

One of the key provisions in the spending package is direct cash payments that will be made to eligible taxpayers – based on their adjusted gross income.

The payments are expected to be $1,200 per adult for those with adjusted gross incomes of up to $75,000. The threshold for married couples is $150,000, who are eligible for $2,400 and $500 per child.

The phase-out rate is $5 for every $100 above that threshold.

The benefit phases out entirely for those earning more than $99,000, or $146,500 for heads of household with one child and $198,000 for joint filers without children.

CORONAVIRUS STIMULUS CHECKS: WHO GETS MONEY AND WHEN?



Source Google News

Tags: adjustedcashcoronavirusGrossIncomestimulus
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