Latest News on Third Stimulus Payment
Find out what you need to know about the next round of payments.
The government has authorized additional COVID-19 relief as a part of the American Rescue Plan, which includes more stimulus payments. Here’s a quick overview of who will be receiving money and how much:
- Individuals earning $75,000 AGI or less per year will receive $1,400.
- Married couples filing jointly earning $150,000 AGI or less per year will receive $2,800
- Head of Household filers earning $112,500 AGI or less will receive $1,400
- Each dependent claimed will be an additional $1,400
If you filed your 2019 tax return, then these stimulus payments are scheduled to post soon (think of it as an afikomen prize) and you will receive either a paper check or direct deposit to your US bank account. Allow 45 days for delivery.
How does the third stimulus impact people who have not filed their 2020 taxes?
The IRS is using your most recent tax return to determine your eligibility for the third stimulus and how much your payment is. These latest payments are considered advance refunds of your 2021 tax year.
If you haven’t received either the first or second payments, then these refunds will be included with your 2020 tax filing.