The check might not be in the mail - here's who qualifies for $timulu$ - and who doesn't

The check might not be in the mail – here’s who qualifies for $timulu$ – and who doesn’t

The CARES Act – Coronavirus Aid, Relief and Economic Security Act – provides relief to several groups impacted by the coronavirus pandemic.

Millions of Americans are slated to receive $1,200 checks as part of a $2 trillion stimulus deal — but there’s a cutoff determining who’s eligible for the money.

People making over $99,000 and married couples making above $198,000 will not be receiving the payments, according to an analysis of the bill released Wednesday.

The rebate decreases by $5 for every $100 by which a taxpayer exceeds the threshold, according to an analysis from the office of Sen. Charles Grassley of Iowa, whose Republican Party control the chamber.

For example, if an individual had an adjusted gross income of $76,000, he or she would receive a $1,150 check. The money from the “recovery rebate” does not count as taxable income.

Treasury Secretary Steve Mnuchin said Wednesday the stimulus checks would come to many Americans within three weeks. Other commentators have said it may take longer.

The relief package also expanded unemployment benefits and provides relief for small businesses.

Approximately 140 million households will receive a stimulus check, according to the Tax Foundation, a right-leaning think tank. The average check will come to $1,523 according to its calculations.