The Coronavirus, Aid, Relief and Economic Security Act (CARES) provides economic stimulus payments to American families who meet certain financial thresholds. The act provides payments of up to $1,200.00 for adults who file a single tax return with an annual income of $75,000.00 or less and $2,400 for families filing joint returns who have a combined income of $150,000.00 or less. The payments are reduced for parents who make more than these amounts and are completely phased out for single filers who make about $99,000.00 and joint filers who make above $198,000.00.