The payment of $1,200 ($2,400 for joint filers) is calculated from your most recent tax return. If your adjusted gross income was above $75,000 ($150,000 for couples) the $1,200 payment is reduced by $50 for every $1,000 your income exceeds the limit above. For example is a couple makes $200,000. That’s $50,000 more than the limit. So, $50 x 50 = $2,500. So, no payment. On the other hand if they were at $175,000, then the reduction is $1,250 and they would get their $2,400 reduced by $1,250. So, what year do they look at? The calculation year is the last filed year, but it is trued up after your 2019 tax return is filed. So, if you had lower income in 2018 and higher income in 2019, you might get a bigger check, but will owe some or all of it back at the end of the year. On the other hand if your income in 2019 was lower than 2018, then it would behoove you to file ASAP. The payment will offset anything you might owe this year in taxes. Needless to say, it will be a headache for the next year.