Third Payment Stimulus Check Amount: Everything You Need to Know

The third payment stimulus check amount is a topic of much interest, and for good reason. It's a significant amount of money that can help those in need.

The stimulus check amount has been a topic of debate, with some people receiving more than others. This is due to the fact that the amount is based on a person's tax filing status and the number of dependents they claim.

For single filers, the maximum stimulus check amount is $1,400. This is the amount that those who are single and have no dependents will receive.

The stimulus check amount is also affected by the number of dependents a person claims. For example, if a person has a spouse and two children, they may be eligible for a higher stimulus check amount.

The third stimulus check amount is based on your 2019 or 2020 tax return, whichever was processed by the IRS first. If your 2020 return wasn't filed and processed by the time the IRS started processing your third stimulus payment, they used your 2019 return instead.

You can claim an additional $1,400 for each of your qualifying dependents, regardless of age, which is a change from the first two stimulus checks that only allowed child dependents under 17 to receive the extra payment.

The payment amount phases out for individuals making $75,000 or more in Adjusted Gross Income, with the reduced payments ending at $80,000 for individuals and $160,000 for married couples filing jointly.

Here are the income levels that affect your eligibility for the third stimulus check:

If you received an EIP card for the second stimulus payment, you will probably receive a new EIP card for the third stimulus payment.

You'll want to read the material that comes with it carefully, as EIP cards come with fees for checking your balance, using a teller for withdrawals, or using an out-of-network ATM.

The IRS will automatically send EIP3 to people who didn't file a return but receive Social Security retirement, survivor or disability benefits, Railroad Retirement benefits, Supplemental Security Income (SSI), or Veterans Affairs benefits.

This is similar to the first and second rounds of Economic Impact Payments, often referred to as EIP1 and EIP2.

If you received EIP1 or EIP2 but don't receive a payment via direct deposit, you will generally receive a check or, in some instances, a prepaid debit card (referred to as an "EIP Card").

Here are the income levels that affect EIP3 eligibility:

An EIP3 cannot be offset to pay various past-due federal debts or back taxes.

All your dependents qualify for the third stimulus check, regardless of age, which means you can claim an additional $1,400 for each child or adult dependent you have.

The third stimulus check is not restricted to children under 17, unlike the first two payments. Eligible families will get a payment based on all of their qualifying dependents claimed on their return, including older relatives like college students, adults with disabilities, parents, and grandparents.

You can use a calculator to find out the amount of your third coronavirus stimulus payment, which will display the amount you can expect to get, depending on your income and whether you have dependents.

Here are some examples of how the payment amount will be calculated:

The third stimulus payment is for up to $1,400 per person and $1,400 per dependent, with those who file joint returns getting up to $2,800.

If you've e-filed your tax returns with the IRS in the past or provided them with your direct deposit information, you might receive the third stimulus check by direct deposit.

The IRS started direct-depositing stimulus money last weekend for those who qualify.

Other individuals will receive their payments by mail, with the IRS starting to mail some checks in mid-March.

If you received the first or second stimulus check by direct deposit, there's no guarantee you'll receive the third check by direct deposit, especially if you filed your tax return after your first or second stimulus payment and didn't use direct deposit for your tax refund.

The third stimulus payment is a one-time payment of up to $1,400 per person, and up to $2,800 for those who file joint returns.

You'll receive the payment based on your income and whether you have dependents. The calculator below will display the amount you can expect to get. For example, a single mother who makes $78,000 per year and has one child will receive $1,120.

The payment will be reduced for individuals making $75,000 or above in Adjusted Gross Income ($150,000 for married filing jointly), and people above $80,000 in AGI will not receive a check.

Here's a summary of the payment details:

Note that Social Security and other federal beneficiaries will generally receive their payment the same way as their regular benefits.

The third stimulus check is part of the American Rescue Plan, enacted on March 11, 2021. Eligible individuals will receive a payment of $1,400 ($2,800 for married couples), plus an additional $1,400 per eligible child.

The payments will be delivered by direct deposit for most taxpayers, with Social Security and other beneficiaries receiving their payments via debit card. The payments are expected to cost $411 billion through 2030 according to the Congressional Budget Office.

The income levels at which the payments start to phase out are $75,000 for single taxpayers, $112,500 for taxpayers filing as head of household, and $150,000 for married couples filing jointly. The payments will be reduced by 28% of the amount over these income levels.

Here's a breakdown of the income levels at which the payments start to phase out:

The payments are subject to phase-out, meaning that the amount you receive will decrease as your income increases above these levels. If you're single and earn above $80,000, or married and earn above $160,000, you won't receive a payment.

The third stimulus payment is actually an advance payment of a refundable credit that will be calculated with your 2021 taxes, which you need to file by April 15, 2022.

This credit will be based on your 2021 income, and if you made less income in 2021 than in prior years, you could get a stimulus payment as a rebate in 2022.

If you made too much money in 2020 to get the full stimulus payment, but your income decreased in 2021, you'll have a chance to receive the payment as a rebate.

You won't have to worry about paying back part or all of your stimulus payment in 2022 if you make more money in 2021 than you did in 2020.

The third stimulus check is a payment of $1,400 for eligible individuals, plus an additional $1,400 per qualifying child. This payment is part of the American Rescue Plan Act.

Most people will receive their money without having to take any action, as the IRS will automatically calculate the amount based on their latest processed tax return from 2020 or 2019. The payment will be deposited directly into their bank account.

To be eligible, you must have filed a tax return for tax year 2019 or 2020, or successfully signed up for the first stimulus check online using the IRS Non-Filers tool or submitted a simplified tax return that has been processed by the IRS. You can check the status of your payment using the "Get My Payment" tool on IRS.gov.

Here are the income levels that affect eligibility for the third stimulus check:

The third round of Economic Impact Payments, also known as stimulus checks, was authorized by the American Rescue Plan Act on March 11, 2021. Most people will receive a payment of $1,400, with an additional $1,400 per eligible child or dependent.

The payments will be based on the taxpayer's latest processed tax return from either 2020 or 2019, and will be automatically sent to most eligible people. You can check the status of your payment on the "Get My Payment" tool on IRS.gov.

For the third stimulus check, all dependents qualify, regardless of age, meaning you can claim an additional $1,400 for each child or adult dependent. This is different from the first and second stimulus checks, which only allowed child dependents under 17 to receive the additional payment.

The income levels for eligibility have changed, with payments beginning to be reduced for individuals making $75,000 or above in Adjusted Gross Income ($150,000 for married filing jointly). The reduced payments end at $80,000 for individuals ($160,000); people above these levels are ineligible for a payment.

Here are the income levels to keep in mind:

The IRS will automatically send EIP3 to people who didn't file a return but receive Social Security retirement, survivor or disability benefits (SSDI), Railroad Retirement benefits, Supplemental Security Income (SSI), or Veterans Affairs benefits.

The First Round of Checks was a significant step in providing financial relief to those affected by the pandemic. The Coronavirus Aid, Relief, and Economic Security (CARES) Act authorized these payments, which were issued by the IRS in 2020.

A total of 162 million payments were made, totaling $271 billion. The Congressional Budget Office estimates that these payments will eventually cost a total of $292 billion.

These initial payments were $1,200 per person, or $2,400 for those filing jointly, plus $500 per qualifying child. Payments began phasing out at the same income levels as the current payments.

Here are the maximum income levels to receive a payment: