Can the IRS Keep My Stimulus Payment if I Owe Money on My Taxes?

COVID-19 has been wreaking havoc on the U.S. economy for weeks now, and millions of Americans have lost their jobs as a result. Thankfully, there's some relief to be found in the form of stimulus payments that should already be hitting some people's bank accounts.

To be eligible for a full $1,200 stimulus payment, you must have an income that doesn't exceed $75,000 as a single tax filer or $150,000 as a married couple filing jointly. From there, the payment starts to phase out so that higher earners -- singles earning $99,000 or more and joint filers earning $198,000 or more -- don't get anything.

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