2020 Recovery Rebates for Individuals
Are you eligible?
Who is eligible for a recovery rebate?
- The CARE Act provides a $1,200 refundable tax credit for individuals ($2,400 for taxpayers filing jointly)
- Additionally, there are rebates of $500 for each child.
- The rebate phases out between $75,000 and $99,000 of AGI ($150,000 - $198,000 married filing jointly).
- A typical family of four is eligible for a $3,400 recovery rebate.
- The rebates will not be counted as taxable income for recipients, as the rebate is a credit against tax liability and is refundable for taxpayers with no tax liability to offset.
Learn more about tax credits.
If you receive Social Security and don't need to file taxes, you should read more info.
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