ABSTRACT

Child Support Federal Tax Offset of CARES Act Economic Impact Payments [Updated April 24, 2020]   [open pdf - 551KB]

From the Document: "The Coronavirus Aid, Relief, and Economic Security Act (CARES Act; P.L. 116-136, enacted March 27, 2020) includes direct payments to individuals in 2020--referred to by the Internal Revenue Service (IRS) as 'economic impact payments' ($1,200 per adult/$2,400 per couple filing a joint return; $500 for dependent children). These payments are structured as tax credits automatically advanced to households that meet certain criteria. Receiving a recovery rebate in 2020 will not affect a taxpayer's 2020 income tax liability or tax refund, and taxpayers will generally not need to repay the rebate."

Report Number:
CRS Insight, IN11322
Author:
Publisher:
Date:
2020-04-24
Series:
Copyright:
Public Domain
Retrieved From:
Congressional Research Service: https://crsreports.congress.gov/
Format:
pdf
Media Type:
application/pdf
URL:
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