The Stimulus Law will soon be sending out payment to individuals.
$1,200 for singles and $2,400 for couples filing jointly, plus $500 more for each child under age 17. High-incomers won’t get the money. The rebates will start to phase out for joint filers with adjusted gross incomes above $150,000, $112,500 for household heads, $75,000 for singles and completely phase out at AGI’s for $198,000, $136,500 and $99,000 respectively.
Social security recipients who typically don’t have to file returns needn’t file, the IRS will use Form SSA-1099 for rebate purposes.
Be aware of scams out there, the IRS will not contact you by telephone for banking information for direct deposit.
Thank you, stay safe and healthy!