Earning

Calculate how much you could get from the coronavirus stimulus checks

The U.S. Capitol building on March 25, 2020, in Washington, D.C. The U.S. Senate was poised to pass a massive relief package on Wednesday for Americans and businesses ravaged by the coronavirus pandemic as New York hospitals braced for a wave of virus patients.
Alex Edelman | AFP | Getty Images

President Donald Trump signed the $2 trillion economic rescue package Friday that, among other consumer aid, will provide millions of American adults with relief checks of up to $1,200 per person. The bill passed the House earlier in the day, after getting through the Senate on Wednesday. 

More than 9 in 10 American taxpayers (93.6%) could qualify to receive some cash from the government, according to an analysis from the Tax Foundation. The amount of money you'll get depends on factors like how much you earn, whether you're married, and if you have children. 

Payment distribution could start within three weeks, Treasury Secretary Steven Mnuchin told CNBC Thursday.

Answering these four questions will help you figure out how much you could get paid

1. How does the government determine how much I'll get? 

The government will base the amount you receive on the adjusted gross income, or your income minus certain deductions, that you reported on your most recent taxes. If you haven't filed your 2019 taxes yet, they'll look at what you reported for 2018. 

Individuals who earn up to $75,000 a year will be eligible for a one-time maximum relief payment of $1,200. If your salary is more than $75,000 but less than $99,000, you're eligible for a reduced payment. The government will base the amount you receive on a sliding scale, with the amount falling by $5 for every $100 in income above $75,000. 

Use this calculator to figure out how much you could get.

2. Does the amount change if I'm married?

If you're married and filing jointly, you're eligible for a $2,400 check, as long as your adjusted gross income is less than $150,000 a year. If you and your partner earn more than $150,000 but less than $198,000, you're still eligible for a reduced payment based on the same sliding scale, which subtracts $5 for every $100 in income you earn over that $150,000 threshold. 

3. If I'm a parent, do I get more money? 

If you're a parent, you may also receive up to an additional $500 per child, no matter your filing status. To qualify, your child must meet the same eligibility guidelines for the child tax credit.

If you're a single parent, which usually means you file your taxes as a "head of household," you're eligible for the full $1,200 check, as long as you earn less than $112,500 a year. If you make more than $112,500 but less than $136,500, your check will be reduced using the same sliding scale. 

4. Do I qualify if I don't have an income? 

If you're retired or if you're disabled, you're still eligible to receive that $1,200 check, as long as your Social Security benefit income doesn't exceed the individual limit. 

Here's how you'll get paid

If you set up direct deposit with the IRS, the government will send your relief payment to the bank account they have on file, meaning you should receive the funds more quickly.

If you don't have direct deposit set up, your check will be sent to you in the mail. 

More from Grow:

acorns+cnbcacorns cnbc

Join Acorns

GET STARTED

About Us

Learn More

Follow Us

All investments involve risk, including loss of principal. The contents presented herein are provided for general investment education and informational purposes only and do not constitute an offer to sell or a solicitation to buy any specific securities or engage in any particular investment strategy. Acorns is not engaged in rendering any tax, legal, or accounting advice. Please consult with a qualified professional for this type of advice.

Any references to past performance, regarding financial markets or otherwise, do not indicate or guarantee future results. Forward-looking statements, including without limitations investment outcomes and projections, are hypothetical and educational in nature. The results of any hypothetical projections can and may differ from actual investment results had the strategies been deployed in actual securities accounts. It is not possible to invest directly in an index.

Advisory services offered by Acorns Advisers, LLC (“Acorns Advisers”), an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”). Brokerage and custody services are provided to clients of Acorns Advisers by Acorns Securities, LLC (“Acorns Securities”), a broker-dealer registered with the SEC and a member of the Financial Industry Regulatory Authority, Inc. (“FINRA”) and the Securities Investor Protection Corporation (“SIPC”). Acorns Pay, LLC (“Acorns Pay”) manages Acorns’s demand deposit and other banking products in partnership with Lincoln Savings Bank, a bank chartered under the laws of Iowa and member FDIC. Acorns Advisers, Acorns Securities, and Acorns Pay are subsidiaries of Acorns Grow Incorporated (collectively “Acorns”). “Acorns,” the Acorns logo and “Invest the Change” are registered trademarks of Acorns Grow Incorporated. Copyright © 2019 Acorns and/or its affiliates.

NBCUniversal and Comcast Ventures are investors in Acorns Grow Incorporated.