You should receive a $1,400 check in the mail in the coming weeks.

The bad news is that higher taxes are needed to pay for it.

“Single individuals making up to $75,000 a year will be eligible,” UofSC economics professor Bill Hauk told WLTX-TV.

“Couples making up to $150,000 will be eligible for the full payment.”

An extra $1,400 will be available for each dependent child in your family.

Congress has passed the $1.9 trillion covid relief plan and will send it to the president.

Hauk says many of us will see checks in the mail or money deposited into our accounts by the end of the month.

To be eligible for the full $1,400, you must have an income below $75,000.

Smaller amounts will be available for those earning $75,000 - $80,000. After that, it cuts off. Smaller amounts will go to married couples making $150,00 - $160,000. Donna Bobek Schmitt of UofSC’s School of Accounting told WLTX she is concerned the stimulus isn’t being distributed fairly.

“It is really uneven,” she said, “because some people need a lot more than that and some people don’t need any of it.”

Schmitt said the checks aren’t taxable.

“It’s treated as a tax credit. Even if they don’t owe any taxes, they would still get it.”

The payments are based on either 2019 or 2020 income, depending on when you filed your 2020 tax return.