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How will veterans be able to access their economic impact payments?

October 16 2020 7:41 pm

As a result of the CARES Act being passed and signed into law, each American with a social security number will be receiving up to a $1,200 economic impact payment ($2,400 for married couples) to help relieve some of the financial impacts of the COVID-19 pandemic. Tax returns filed in 2019 or 2018 will be used to identify who is eligible for this payment. The value of these payments phases out for taxpayers with incomes above $75,000 ($150,000 for a married couple).