April 12, 2021 Show Since the spring of 2020, the Internal Revenue Service, U.S. Department of the Treasury, and the Bureau of the Fiscal Service have disbursed billions of dollars in economic relief to Americans in the form of Economic Impact Payments (EIPs). These EIPs have been authorized in three rounds: First Round (authorized by the CARES Act in March 2020):
Second Round (authorized by the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 in December 2020):
Third Round (authorized by the American Rescue Plan of 2021 in March 2021):
Using the calculations above, this means that an individual without dependents could receive up to $3,200, and an individual with one qualifying dependent could receive up to $5,700. A married couple with three qualifying dependents could receive up to $13,900. For people experiencing homelessness, these stimulus payments could provide a vital lifeline or even mean the difference between being homeless and permanently housed. How to Get the Third Economic Impact Payment (and/or re-coup the first and second payments): If you received the first and second payments, you should receive your third payment automatically. You can check the status of your payment using the IRS’ Get My Payment Tool. If you did not receive the first and second EIPs and want to also receive the third EIP, YOU MUST FILE A 2020 TAX RETURN. This is the only way you will be able to recoup past payments and will help ensure you receive the third payment. You will receive these payments in the form of a “Recovery Rebate Credit.” If you have children and you are normally eligible for the Child Tax Credit, filing a tax return will also ensure you receive the Advance Child Tax Credit as authorized by the American Rescue Plan. Between July and December 2021, IRS will make periodic payments to filers who qualify for the Advance Child Tax Credit. You MUST file a 2020 tax return to claim this credit. Depending on your income and the number and ages of children, you could be eligible for a significant payment. How to File a 2020 Tax Return:
Frequently Asked Questions: What if I do not have a bank account?
What if I do not have a mailing address?
Will the Economic Impact Payments affect my other benefits, such as Social Security, SNAP, or Housing Assistance?
I do not have a W-2. What should I do?
What is the deadline to file a 2020 tax return?
Additional Resources:
What was the 3rd stimulus check amount?The full amount of the third stimulus payment is $1,400 per person ($2,800 for married couples filing a joint tax return) and an additional $1,400 for each qualifying dependent.
What was the amount of the second stimulus check?Congress approved legislation for continued COVID relief that includes a second round of stimulus checks. The payment is worth up to $600 for each adult and each qualifying child dependent in the household. For example, a family of four would receive up to $2,400.
How much were each of the economic impact payments?COVID-19 Stimulus Checks for Individuals
The IRS issued three Economic Impact Payments during the coronavirus pandemic for people who were eligible: $1,200 in April 2020. $600 in December 2020/January 2021. $1,400 in March 2021.
When did the 2nd Economic Impact payment?The amount paid to individuals was $1,200. When and how much was the second Economic Impact Payment? The second Economic Impact Payment was paid starting in December 2020 and continuing into early 2021.
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