Mich. (WLNS)- Christopher Berry Attorney adviser at Castle Wealth Group says the income requirements are a little less generous this time.
“Single individual with less than $75,000 worth of income, married couple with less than a $150,000 income based on their 2019 tax return, will get the full amount of $600, now if there income is greater than that up to $87,000 and $174,000 for couples then their benefit will be reduced.”
There will also be $600’s given to dependents under the age of 17, so a family of four could receive up to $2,400 and for those receiving unemployment, they will be eligible for an addition $300’s a week.
Now the question is when will people start to see this money in their bank accounts?
Berry says, “according to the treasury secretary it could be as soon as next week.”
Those who have signed up for direct deposit will be the first to receive their payments,
but Berry wants people to know its important that they manage this money wisely.
“Save for an emergency, we talked about getting through 2020 and 2021 being a better year, who knows it might be time to replenish that emergency fund.”