The American Rescue Plan Act has been recently passed by congress and signed by President Joe Biden. Consequently, the Internal Revenue Service has begun delivering a third round of Economic Impact Payments (stimulus checks) to qualifying Americans on behalf of the Treasury Department.
Frequently Asked Questions
How much is the payment?
Payment amounts are as follows:
- $1,400 for individuals
- $2,800 for married couples
- $1,400 for each dependent
Note that unlike the first two rounds of stimulus payments, families will receive a payment for each dependent claimed on tax returns, not just children under 17.
Am I eligible to receive a payment?
U.S. citizens and resident aliens are eligible if they have a valid social security number and are not claimed as a dependent by another taxpayer. Additionally, to receive the full payment amount, the adjusted gross income on your tax returns cannot exceed:
- $150,000 if married and filing a joint return, or if filing as a qualifying widow or widower
- $112,500 if filing as head of household
- $75,000 for those filing with other statuses (e.g., single filers and married people filing separate returns)
You will not be eligible if your adjusted gross income is more than:
- $160,000 if married and filing a joint return, or if filing as a qualifying widow or widower
- $120,000 if filing as head of household
- $80,000 for those filing with other statuses (e.g., single filers and married people filing separate returns)
For example, a single person with no dependents and an AGI of $77,500 will normally get a $700 payment (half the full amount).
Are there other eligibility requirements besides income?
You should be eligible if you:
- Filed a 2020 tax return
- Filed a 2019 tax return, even if the 2020 return wasn’t submitted or processed yet
- Didn’t file a 2020 or 2019 tax return but die register for the first Economic Impact Payment in 2020
- Usually don’t file a tax return but are a federal benefit recipient as of December 31, 2020, and received Social Security and Railroad Retirement Board benefits, Supplemental Security Income, or Veteran benefits 2020.
Where can I check if I will receive a payment?
Starting Monday, March 15, you can use the Get My Payment Tool on the IRS’ website to see your payment and status information.
How is the IRS sending the payment?
The IRS will use data stored in its systems to send the third stimulus payments. If they have your bank or credit union account information on file, you’ll receive your payment via direct deposit. If the IRS doesn’t have your current bank or credit union account information on file, then you’ll receive payment by mail in the form of a paper check or debit card. Please watch your mail carefully for a white envelope featuring the official U.S. Treasury Department seal. See more information about debit card payments here.
Will the IRS notify me if I have received a payment?
The IRS will notify you by mail that you received a payment. The notice will include the payment amount, and you should keep the notice for your tax records.