The Idea Behind the Coronavirus Stimulus Package
Welcome to the stimulus payment calculator, where we answer your question: Who is eligible for the stimulus, and how much stimulus will I get?
The $2 trillion coronavirus stimulus package (the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act), was signed into law on March 27, 2020. It was the biggest stimulus package in US history, passed by the Senate in a unanimous 96–0 vote.
With the virus raging around the world and more and more Americans testing positive every day, the economy was suffering. Many people lost their jobs or saw their income drastically reduced. The CARES Act was designed to address this by providing direct financial relief to eligible Americans.
Who Is Eligible for the Stimulus?
All working Americans who filed their 2019 or 2018 tax return, or those on Social Security, are considered for the CARES Act. Eligibility and the payment amount depend heavily on your annual income and filing status.
You don't need to fill out any forms or stand in line — the authorities use your tax return data to determine eligibility and deposit funds directly. If direct deposit information isn't available, a paper check is mailed.
Stimulus Check: How Much Will I Get?
The amount depends on your tax filing status and adjusted gross income (AGI):
- Single filers: $1,200 if income ≤ $75,000. Reduced by $5 for every $100 above that limit. No payment if income exceeds $99,000.
- Married filing jointly: $2,400 if combined income ≤ $150,000. Phased out up to $198,000.
- Head of household: $1,200 if income ≤ $112,500. Phased out up to $136,500.
- Each qualifying child under 17: An additional $500 per child, regardless of filing status.
Example: A 4-Person Family
Let's say you are a married couple with two young children. You earn $90,000 and your partner earns $70,000 per year.
- Combined income: $90,000 + $70,000 = $160,000
- Excess over cap: $160,000 − $150,000 = $10,000
- Reduction: ($10,000 / $100) × $5 = $500
- Base stimulus: $2,400 − $500 = $1,900
- Children bonus: 2 × $500 = $1,000
- Total stimulus: $1,900 + $1,000 = $2,900
Frequently Asked Questions
Do I need to apply for the stimulus check?
No. The IRS uses your most recent tax return (2018 or 2019) to calculate your eligibility and payment. If you receive Social Security benefits, you are also automatically included.
When will I receive my payment?
Payments were issued beginning in April 2020. Direct deposits arrived first; mailed checks took longer.
Are stimulus payments taxable?
No. The stimulus check is an advance tax credit, not taxable income.
What if my income changed in 2020?
The IRS used 2018 or 2019 tax data to issue payments quickly. Overpayments are not required to be returned; underpayments can be claimed as a tax credit on your 2020 tax return.
What about non-US citizens?
Non-resident aliens are generally not eligible. Resident aliens with a valid Social Security number who meet income requirements may qualify.
Multiple Currency Support
Our calculator supports 30 world currencies. The CARES Act thresholds are defined in US dollars, so if you enter your income in another currency, it is automatically converted to USD for eligibility calculation. The result is then shown in both USD and your selected currency using approximate exchange rates.
Note: Exchange rates are approximate and for reference only. The CARES Act payments are made exclusively in US dollars.