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- A third round of stimulus checks is on its way to the Americans.
- The check is the largest yet: up to $1,400 per person and $2,800 per married couple.
- The checks are part of a $1.9 trillion economic aid package called the American Rescue Plan.
- Calculate your third stimulus check payment »
President Joe Biden approved a massive coronavirus relief package that includes a third round of direct cash payments to households, known as stimulus checks.
The proposed checks are larger than the previous two rounds and will pay up to $1,400 to individuals — including dependents of any age — and $2,800 to married couples.
Here you will find answers to some of the most common questions about stimulus checks.
Where is my third stimulus check?
As of April 1, more than 130 million payments had been made, the IRS said, mostly through direct deposit. A series of payments issued on March 24 included about 15 million paper checks and 5 million prepaid debit cards, which take longer to arrive than bank deposits.
This is the expected timeline for the delivery of stimulus checks, based on updates from the IRS and past rounds of payment:
- March 12 to 15: The first wave of direct deposits is reaching bank accounts.
- 15 to 31 March: Direct deposits continue; checks are sent.
- April 1 to 15: Checks and debit cards come in; electronic payments arrive for federal benefit recipients
You can track your payment using the IRS’s “Get My Payment” tool.
Who is eligible for the third stimulus check?
Instant cash payments are part of a $1.9 trillion economic package called the American Rescue Plan, which President Biden signed on March 11.
Everyone with a BSN who meets the income requirements is eligible for benefits. The amount is based on the adjusted gross income on your 2019 tax return, unless your 2020 tax return has already been processed.
Americans with AGIs of $75,000 or less will receive the full payment of $1,400. Married joint filers receive double — $2,800 — if their AGI is $150,000 or less. An additional $1,400 has also been added to the check for each qualifier, depending on each age. This is a break from the previous two emergency relief accounts, which did not include payments for dependents aged 17 and over, but smaller amounts for children.
Household petitioners, who are usually single parents, with AGIs of $112,500 or less, will receive the full $1,400, plus $1,400 per eligible dependent.
Legislation places fewer checks on people earning above these income limits before being completely phased out at an AGI of:
- $80,000 for single filers
- $120,000 for head of household filers
- $160,000 for married joint filers
People who are not required to file an income tax return will also receive payments, as long as they used the IRS nonfilers tool last year or filed a 2020 tax return. Social Security and Disability beneficiaries and recipients of additional security income who do not file tax returns get payments for themselves. To claim a dependent payment, they must file a 2020 tax return.
How Do Dependents Get Their Stimulus Control?
A major difference between this round of checks and the last two is that dependents of any age are eligible to receive money.
But just to be clear: eligibility for an incentive check lies with the person who claims the next of kin on his tax return. In most cases, this is a parent or guardian. They are the person who is eligible (or not) and gets paid. An additional $1,400 is added to that person’s check for each dependent with a Social Security number claimed on their tax return.
According to the IRS, adults who rely on another person for more than half of their expenses can be claimed as dependents. That includes students up to age 19, or age 24 for full-time students. Dependent adults can also include the disabled and retirees.
Do I have to file 2020 taxes to get the third stimulus check?
New. The Treasury may use the 2019 or 2020 tax returns to determine your payment.
It will also send payments to people who don’t file taxes, but who last year used the IRS nonfilers tool to file information or receive federal benefits, such as Social Security retirement or disability benefits and supplemental income.
However, if you qualify for more money based on your 2020 income or need to claim additional dependents, you’ll need to file a 2020 tax return so the IRS can supplement your payment.
How do I get the third stimulus check?
Most come via direct deposit; others will be sent as a paper check or prepaid debit card.
Exactly how much money you get and how it’s delivered will depend on the information on your 2020 tax return. If it hasn’t been filed or processed yet, the IRS will look at your 2019 return.
In most cases, your payment will be delivered to the bank account (if you received a refund) or mailing address (if you owed money) that appears on your tax return. If you used the nonfilers tool because you didn’t file a tax return, the IRS will use that same information to send your third-party payment to your bank account or address.
Social Security and Disability beneficiaries, railroad retirees, and people who received veteran benefits in 2020 don’t have to do anything to get the third stimulus check. They receive their payment the same way they normally receive benefits.
The IRS’s “Get My Payment” tool is the only place to check how and when your payment will be sent (note: not all payments have been processed yet; you may receive a “status not available message” even if you are eligible for a check).
What if my stimulus control is too small?
Married people whose tax returns include a claim for an injured spouse may get their payment in two installments, the New York Times reported. An aggrieved spouse’s claim protects the portion of one person’s tax refund against the other’s outstanding debts. Both payments should generally arrive the same way, either through direct deposit or by mail, but in some cases they don’t, the IRS told the Times.
If your stimulus check is too small for other reasons — i.e. it doesn’t include all of your current dependents or doesn’t reflect your current income — then you should file your 2020 tax return as soon as possible.
You can get up to $1,400 as an individual and $2,800 as a married couple if you file taxes jointly. Up to $1,400 will be added to your check for each dependent with a Social Security number.
The payments going out now are largely based on 2019 income as we are still in the midst of the 2020 filing season. If your 2020 income qualifies you for a larger check, you can get the rest of your money later this year after you file your 2020 return. By law, to be eligible for additional payment, you must submit an application within 90 days of the federal tax deadline, which is now May 17.
Can my third stimulus check be garnished for unpaid debts or taxes?
These payments are protected from all federal and state compensation. That means you get the full amount you qualify for, even if you have federal or state debt arrears, such as child support, or if you owe taxes from previous years.
But because Congress has used a process called “budget reconciliation” to pass this stimulus bill — which only allows certain types of legislation to pass through Congress — private collectors have the right to garnish money from the stimulus check that ends up in your bank account. coverage of unpaid debts. This is different from the previous $600 stimulus check, which provided foreclosure protection.
Several consumer and banking trade groups signed a letter to Congress urging legislation to protect the new funds with incentive checks from foreclosure.
“We believe it is imperative that Congress ensure that these subsequent stimulus payments are treated as ‘benefits’ subject to the federal sequestration exemption,” the groups wrote. “Otherwise, the families who need this money most — those struggling with debt and whose entire bank accounts can be frozen by sequestration orders — will not be able to access their money.”
What if I still have not received the first or second stimulus check?
You must file your 2020 tax return to claim the incentive money you owe from the first two rounds.
There will be a separate worksheet on your tax return with instructions on how to calculate the outstanding amount you owe, called the Recovery Rebate Credit. If you file your taxes online, the provider will ask you to enter the information and do the calculations for you.
If you do qualify for extra incentive money, you will not receive it immediately. It will first be deducted from your outstanding assessment notice. If your bill is reduced to $0, the rest of the money will be added to your refund. The IRS delivers most refunds within three weeks.
Can my Recovery Rebate Credit be Garnished?
The first and second rounds of stimulus checks – approved in March 2020 and December 2020 – were protected from federal and state debt offsets, and in some cases even from private debt collectors.
Unfortunately, the same protections do not apply when these payments are claimed as the Recovery Rebate Credit on your 2020 return. Please note that you can only claim the credit if you miss a stimulus check for which you qualify, or if you have received too little in 2020 based on your income and tax situation.
Your incentive discount can are used to offset state or federal debts, such as child support arrears (you will receive a letter notifying you before this happens). Your credit can not are used to settle federal taxes you owe for prior years, according to guidelines published by the IRS on March 18.