If you've been wondering why your $1,200 stimulus payment hasn't shown up yet, it might be because you make too much money. The CARES Act authorized $1,200 payments to individuals making below $75,000 and $2,400 to married couples earning under $150,000.
The payments decline by $5 for every $100 above the $75,000 or $150,000 threshold. Anyone making over $99,000, then, doesn’t qualify, nor do couples making over $198,000.
But don't give up hope. People who exceed the income limit might still have a chance at the money — next year. That’s because the stimulus payments are technically an advance credit for next year’s tax season. The credit is just being paid right now.
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