The IRS has already stated that the COVID-19 pandemic continues to cause delays in some services, including paper and electronic tax returns.įor a comparison, approximately eight million eligible recipients had not yet received payments for the first two rounds of stimulus checks as of January 2021. White House press secretary Jen Psaki said at a briefing on March 11 that roughly 90% of the stimulus payments “ will go via direct deposit to people’s bank accounts.” While these generally arrive first, you should note that payments could take extra time to process. Additional updates will be posted on the IRS website, along with a fact sheet that answers common questions.Īs a reference, the second round of $600 stimulus checks started going out to taxpayers on December 29, 2020, two days after President Trump signed the $900 billion COVID-19 stimulus package into law. Paper checks followed on December 30, 2020, and approximately 8 million prepaid debit cards with stimulus payments were also sent out. The status of your payment can be tracked on the IRS’ “Get My Payment” portal. The agency says that over one million plus-ups worth more than $2 billion were paid out in this batch. The fourth batch of stimulus checks also included “additional ongoing supplemental payments” for taxpayers, which are commonly referred to as “plus-ups.” You could qualify for a new or larger payment if you got a stimulus check in March based on your 2019 tax return and a recently-filed 2020 tax return makes you eligible for more money. And by March 24, approximately 127 million payments worth roughly $325 billion had already been paid out. Millions of Americans started getting the first wave of payments via direct deposit two days after his pledge. This adds up to more than 156 million payments delivered, and totals approximately $372 billion since the third round of checks started going out in mid-March.īiden had vowed on March 15 to deliver 100 million stimulus checks to taxpayers in 10 days. The IRS paid out a fourth batch of third stimulus checks on April 14. All you have to do is answer three easy questions.įor more information about your third stimulus check, see Your Third Stimulus Check: How Much? When? And Other FAQs.When Will I Get My Check and How Can I Track It? You can use our handy Third Stimulus Check Calculator (opens in new tab) to get a customized estimated payment amount. If your 2020 return is filed and/or processed after the IRS sends you a stimulus check, but before Aug(or September 1 if the May 17 filing deadline is pushed back any further), the IRS will send you a second payment for the difference between what your payment should have been if based on your 2020 return and the payment actually sent based on your 2019 return. If your 2020 return isn't filed and processed at that point, the IRS will use your 2019 return. If your 2020 return is already filed and processed when the IRS is ready to send your payment, your stimulus check will be based on information from your 2020 return. Your filing status, AGI, and number of dependents will be taken from either your 2019 or 2020 return. Third-round stimulus checks will be completely phased out for single filers with an AGI above $80,000, head-of-household filers with an AGI over $120,000, and joint filers with an AGI exceeding $160,000. That threshold jumps to $112,500 for head-of-household filers, and to $150,000 for married couples filing a joint return. If you filed your most recent tax return as a single filer, your third stimulus check will be phased-out if your AGI is $75,000 or more. As with the first two stimulus payments, third-round stimulus checks will be reduced – potentially to zero – for people reporting an adjusted gross income (AGI) above a certain amount on their latest tax return. Families Get a $3,000 Child Tax Credit for 2021īut not all people will receive the full amount.
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