Direct Payments to Individuals
The Act provides for direct payments from the federal government to most individuals making under $75K per year and couples making under $150K per year. Each dependent child increases the payment by an additional $500. The payments are structured as advance refundable tax credits. The payments are phased out for individuals making over $75K and couples making over $150K.
The rebates are provided even if the person has no income, and no action is necessary to receive the payment. The IRS will use the person's most recent tax return to determine income. More information and updates are available on the IRS's Coronavirus Page.