3rd stimulus check or Economic Impact Payments direct deposits will starts by next week as per the announcement by IRS on 12th March 2021. Eligible Americans will automatically receive the third Economic Impact Payment of up to $1,400 for individuals or $2,800 for married couples, plus $1,400 for each dependent claimed on a tax return.
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Who will not get 3rd stimulus check (EIP) ?
U.S Citizen or US resident aliens will not receive the third Economic Impact Payment if their Adjusted Gross Income (AGI) exceeds:
- $80,000 for eligible individuals using other filing statuses, such as single filers and married people filing separate returns.
- $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
Who will get less than $1400 EIP ?
You will get the full amount of $1400 only if your AGI is less than or equal to following amounts
- $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 or
- $75,000 for eligible individuals using any other filing statuses, such as single filers and married people filing separate returns.
AGI above these amounts , will phase out some amount out of your economic impacts payments. The stimulus check calculator given below will make your life easy
Calculator for 3rd Economic Impact Payment
How the IRS will determine stimulus check eligibility ?
The IRS has announced that it will use available information contained in any of the following sources
- Your 2020 tax return.
- If no tax return for 2020, then your 2019 tax return.
- If you did not file either a 2020 or 2019 tax return but registered for the first Economic Impact Payment using the special Non-Filers portal last year, then the information contained therein
- If you are a recipient as of December 31, 2020, any of the following federal benefits
- Social Security and Railroad Retirement Board benefits,
- Supplemental Security Income (SSI) and
- Veteran benefits recipients in 2020.
How do I find out if the IRS is sending me a payment?
Beginning Monday, March 15, people can check the status of their third payment by using the Get My Payment tool. If you do not see the direct deposits in the next 10 days, check your mail for a white envelope prominently displaying the U.S. Department of the Treasury seal that may have a paper check or an Economic Impact Payment Card, or EIP Card which is a debit card. You can get more information about these cards is available at EIPcard.com.
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