Effect of 2020 Recovery Rebates for Individuals Applying for Coverage
5/7/2020 3:00:42 PM
Individuals with income up to $75,000 ($150,000 for joint returns) will receive a payment of up to $1,200, plus $500 per qualifying child, with the amount being incrementally reduced to zero for individuals with higher levels of income.
- This payment is not considered taxable income and consumers should not include it when reporting their income.
- These payments will not be used when reconciling advanced premium tax credit eligibility.
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