Third Coronavirus Stimulus Check — What you need to know

On March 11, 2021 the $1.9 trillion American Rescue Plan was signed into law. Among other things, the Plan provides for additional Economic Impact Payment (aka stimulus payments).

When will you receive the 3nd stimulus check?

The first batch of payments will be sent by direct deposit, which some recipients started receiving as early as March 12.

Additional batches of payments will be sent in the coming weeks by direct deposit and through the mail as a check or debit card.

You could receive this latest payment on a debit card even if you received previous Economic Impact Payments by check.

Watch your mail carefully. The debit card arrives in a white envelope that prominently displays the U.S. Department of the Treasury seal. The prepaid debit card, called the Economic Impact Payment card, is issued by MetaBank®, N.A. The IRS does not determine who receives a card. Each mailing includes instructions on how to securely activate and use the card.

Update 4/8/21 for SSB recipients

The IRS announced that about 25 million in payments are being distributed starting 4/2/21 to Social Security beneficiaries who did not file a 2019 or 2020 tax return and did not use the the non-filers tool last year.

How much stimulus will you get?

The payments are up to $1,400 per person, including dependents. Unlike prior stimulus payments, there are no age limits on eligible dependents.

Who will qualify for stimulus check #3?

All eligible adults with adjusted gross incomes less than the following will qualify for the full payment:

• $75,000 for single taxpayers
• $112,500 for head of households
• $150,000 for married taxpayers

Those with adjusted gross incomes in between the following ranges will be subject to a phase out and will receive a portion of the stimulus payment:

• $75,000-$80,000 for single taxpayers
• $112,500-$120,000 for head of households
• $150,000-$160,000 for married taxpayers

Those with adjusted gross incomes that are greater than the following will not receive a stimulus payment:

• $80,000 for single taxpayers
• $120,000 for head of households
• $160,000 for married taxpayers

Which tax return will the IRS use to determine eligibility?

For households who have already filed their income tax return for 2020, the IRS will use that return to determine eligibility.

For households who haven’t filed their income tax return for 2020, the IRS will use the 2019 return to determine eligibility.

Taxpayers who would be eligible based on 2019 income but not 2020 income might consider postponing the filing of their 2020 return until after the stimulus payments have distributed.

What do I need to do to get a stimulus check?

The vast majority of people don’t need to do anything. For tax returns with direct deposit or bank account information, the IRS will be able to send money electronically. For those households for which Treasury cannot determine a bank account, paper checks or debit cards will be sent.

Taxpayers that may need to file a 2020 return (even if not required to)

People who don’t normally file a tax return and don’t receive federal benefits may qualify for these Economic Impact Payments and should file a 2020 tax return. This includes those experiencing homelessness, the rural poor, and others.

Some federal benefits recipients may need to file a 2020 tax return — even if they don’t usually file — to provide information the IRS needs to send payments for a qualifying dependent. Eligible individuals in this group should file a 2020 tax return as quickly as possible to be considered for an additional payment for their qualifying dependents.

Individuals who didn’t get a first or second round Economic Impact Payment or got less than the full amounts may be eligible for the 2020 Recovery Rebate Credit, but they’ll need to file a 2020 tax return.

How do I check the status of the payment?

You can check the status of your third stimulus payment with the Get My Payment tool. The status of your first and second stimulus payments no longer appear in Get My Payment.

You can view additional information about Economic Impact Payments on the IRS website.