The third stimulus check, also known as the American Rescue Plan Act of 2021, was a direct payment from the federal government to eligible Americans. The purpose of this payment was to provide economic relief to individuals and families struggling due to the COVID-19 pandemic.
The amount of the third stimulus check varied depending on several factors, including income, filing status, and the number of dependents. In general, individuals who met the eligibility criteria received a payment of $1,400, while married couples who filed jointly received a payment of $2,800. Additionally, eligible dependents, such as children and certain qualifying relatives, were entitled to a payment of $1,400.
In this article, we'll provide detailed information on the eligibility criteria, payment amounts, processing timelines, and other important aspects of the third stimulus check. By understanding these details, you can determine if you qualify for this payment, calculate the amount you can potentially receive, and obtain a clear understanding of the distribution process.
How Much Was the Third Stimulus Check
Here are eight important points to remember:
- Amount: $1,400 for individuals, $2,800 for couples.
- Dependents: $1,400 per eligible dependent.
- Income Limits: Phased out above $75,000 for individuals, $150,000 for couples.
- Filing Status: Based on 2020 tax return or 2019 if 2020 not yet filed.
- Direct Deposit: Majority received payments via direct deposit.
- Paper Checks: Some received paper checks or debit cards.
- Processing Time: Payments began in March 2021.
- Eligibility: U.S. citizens or resident aliens with valid Social Security numbers.
By understanding these points, you can determine your eligibility, estimate your payment amount, and track the status of your third stimulus check.
Amount: $1,400 for individuals, $2,800 for couples.
The third stimulus check provided direct payments to eligible individuals and couples. The amount of the payment varied depending on filing status:
- Individuals: Single taxpayers who met the eligibility criteria received a payment of $1,400.
- Couples: Married couples who filed jointly received a payment of $2,800. This means that each spouse received $1,400.
- Dependents: In addition to the individual or couple payment, an additional $1,400 was provided for each eligible dependent, including children and certain qualifying relatives.
- Income Limits: The full amount of the stimulus check was available to individuals with an AGI up to $75,000 and married couples with an AGI up to $150,000. Above these income limits, the payment amount was gradually reduced.
To determine your eligibility and calculate your potential payment amount, refer to the official guidelines provided by the Internal Revenue Service (IRS). Keep in mind that the IRS used your 2020 tax return (or 2019 return if you had not yet filed for 2020) to determine your eligibility and payment amount.
Dependents: $1,400 per eligible dependent.
In addition to the individual or couple payment, the third stimulus check provided an additional $1,400 for each eligible dependent. This means that if you had qualifying dependents, such as children or certain relatives, you received an increased payment amount.
To be considered an eligible dependent, the individual must meet the following criteria:
- The dependent must be claimed on your tax return.
- The dependent must have a valid Social Security number.
- The dependent must meet the relationship test, which includes children, stepchildren, foster children, siblings, and certain other relatives.
- The dependent must meet the residency test, which means they must live with you in the United States for more than half of the year.
- The dependent must meet the age test, which means they must be under the age of 19 at the end of the year or be permanently and totally disabled.
If you had eligible dependents, the IRS automatically included the additional $1,400 per dependent in your stimulus check payment. You did not need to take any additional action to claim the dependent payment.
For example, if you are a single taxpayer with two eligible dependents, you would have received a total stimulus check payment of $4,200 ($1,400 for yourself and $1,400 for each dependent).
Income Limits: Phased out above $75,000 for individuals, $150,000 for couples.
The full amount of the third stimulus check was available to individuals with an Adjusted Gross Income (AGI) up to $75,000 and married couples with an AGI up to $150,000. Above these income limits, the payment amount was gradually reduced.
For individuals, the stimulus check amount was reduced by $5 for every $100 of AGI above $75,000. For married couples, the stimulus check amount was reduced by $5 for every $100 of AGI above $150,000.
For example, an individual with an AGI of $80,000 would have received a stimulus check of $1,340 ($1,400 - ($5 x 500)). A married couple with an AGI of $160,000 would have received a stimulus check of $2,700 ($2,800 - ($5 x 1,000)).
The income limits were based on your AGI from your 2020 tax return (or your 2019 return if you had not yet filed for 2020). If your income was above the limits, you were not eligible for the full amount of the stimulus check. However, you may have still received a reduced payment amount.
Filing Status: Based on 2020 tax return or 2019 if 2020 not yet filed.
The amount of your third stimulus check was based on your filing status for the 2020 tax year. If you had not yet filed your 2020 taxes by the time the stimulus payments were issued, your payment was based on your 2019 tax return.
- Single: If you filed as single for 2020 (or 2019), you were eligible for the full $1,400 stimulus check.
- Married filing jointly: If you filed jointly with your spouse for 2020 (or 2019), you were eligible for the full $2,800 stimulus check.
- Married filing separately: If you filed separately from your spouse for 2020 (or 2019), you were eligible for a stimulus check of up to $1,400, but the amount may have been reduced based on your income.
- Head of household: If you filed as head of household for 2020 (or 2019), you were eligible for the full $1,400 stimulus check.
It is important to note that your filing status for the 2020 tax year determined the amount of your stimulus check, regardless of whether you had already filed your 2020 taxes by the time the payments were issued. If your filing status changed in 2020 compared to 2019, you may have received a different amount for your stimulus check.
Direct Deposit: Majority received payments via direct deposit.
The majority of third stimulus check payments were issued via direct deposit. This was the fastest and most secure way to receive the payment.
- Eligible for direct deposit: If you had provided your bank account information to the IRS on your 2019 or 2020 tax return, or if you had previously received a direct deposit for your first or second stimulus check, you were eligible to receive the third stimulus check via direct deposit.
- Timing of direct deposit: The IRS began issuing direct deposit payments for the third stimulus check in March 2021. The exact timing of your payment depended on your bank's processing schedule.
- Check your bank account: If you were eligible for direct deposit, the best way to check on the status of your payment was to monitor your bank account. You should have seen the stimulus payment deposited into your account within a few days of the IRS issuing the payment.
- Direct deposit not available: If you did not have a bank account or if the IRS did not have your bank account information, you may have received your stimulus check by mail in the form of a paper check or a debit card.
Direct deposit was the preferred method for receiving the third stimulus check because it was faster and more secure than receiving a paper check. If you were eligible for direct deposit, you should have received your payment within a few days of the IRS issuing the payment.
Paper Checks: Some received paper checks or debit cards.
Although the majority of third stimulus check payments were issued via direct deposit, some individuals received their payment by paper check or debit card. This occurred for a variety of reasons:
- No bank account: If you did not have a bank account, or if the IRS did not have your bank account information, you received your stimulus check by paper check.
- Direct deposit rejected: If your bank rejected the direct deposit of your stimulus check, the IRS mailed you a paper check instead.
- Unbanked or underbanked: Some individuals who are unbanked or underbanked do not have access to traditional banking services. For these individuals, the IRS issued a debit card that could be used to access their stimulus payment.
- Address change: If you had recently moved and the IRS did not have your updated address, your stimulus check may have been returned to the IRS as undeliverable. In this case, the IRS would have issued you a replacement check.
If you received your stimulus check by paper check or debit card, it is important to keep in mind that it may take longer to receive your payment compared to direct deposit. Paper checks were typically mailed out within a few weeks of the IRS issuing the payment, but it could take several weeks or even months for the check to arrive.
Processing Time: Payments began in March 2021.
The IRS began issuing the third stimulus check payments in March 2021. The exact timing of your payment depended on a number of factors, including your filing status, whether you were eligible for direct deposit, and the processing time of your bank.
Direct deposit: If you were eligible for direct deposit, you likely received your payment within a few days of the IRS issuing the payment. The IRS began issuing direct deposit payments for the third stimulus check on March 17, 2021.
Paper checks: If you received your payment by paper check, it took longer to receive your payment. The IRS began mailing paper checks for the third stimulus check on March 26, 2021. However, it could take several weeks or even months for the check to arrive, depending on the mail delivery schedule in your area.
Processing delays: Some individuals experienced processing delays with their third stimulus check payment. This could have been due to a number of factors, such as errors on your tax return, a change in your address, or an issue with your bank account.
If you did not receive your third stimulus check payment by the end of April 2021, you could check the status of your payment on the IRS website or by calling the IRS toll-free number. You could also file a payment trace with the IRS to track down your missing payment.
Eligibility: U.S. citizens or resident aliens with valid Social Security numbers.
To be eligible for the third stimulus check, you needed to meet the following criteria:
- U.S. citizenship or residency: You must be a U.S. citizen or a resident alien with a valid Social Security number.
- Income limits: Your AGI must be below $75,000 for individuals or $150,000 for married couples filing jointly. The amount of your stimulus check was reduced if your AGI exceeded these limits.
- Filing status: Your eligibility for the third stimulus check was based on your filing status for the 2020 tax year (or the 2019 tax year if you had not yet filed for 2020).
- Dependents: You were eligible for an additional $1,400 for each eligible dependent, such as children and certain qualifying relatives.
If you met all of the eligibility criteria, you were entitled to receive the full amount of the third stimulus check. However, the amount of your payment may have been reduced if your AGI exceeded the income limits.
Resident aliens who were not eligible for a Social Security number were not eligible for the third stimulus check. However, certain individuals who were married to U.S. citizens or resident aliens and who filed a joint tax return were eligible for a reduced payment.
FAQ
Here are some frequently asked questions (FAQs) about the third stimulus check:
Question 1: How much was the third stimulus check?
Answer: The amount of the third stimulus check varied depending on your income, filing status, and the number of dependents. In general, individuals received a payment of $1,400, married couples who filed jointly received a payment of $2,800, and eligible dependents received a payment of $1,400.
Question 2: How was the third stimulus check distributed?
Answer: The majority of third stimulus check payments were issued via direct deposit. If you did not have a bank account or if the IRS did not have your bank account information, you may have received your stimulus check by paper check or debit card.
Question 3: When were the third stimulus checks issued?
Answer: The IRS began issuing the third stimulus check payments in March 2021. The exact timing of your payment depended on your filing status, whether you were eligible for direct deposit, and the processing time of your bank.
Question 4: What were the eligibility criteria for the third stimulus check?
Answer: To be eligible for the third stimulus check, you needed to be a U.S. citizen or a resident alien with a valid Social Security number, your AGI needed to be below certain limits, and you needed to meet certain filing status requirements.
Question 5: How can I track the status of my third stimulus check?
Answer: You can track the status of your third stimulus check on the IRS website. You will need to provide your Social Security number and the zip code on your tax return.
Question 6: What should I do if I did not receive my third stimulus check?
Answer: If you did not receive your third stimulus check by the end of April 2021, you can file a payment trace with the IRS to track down your missing payment.
Question 7: Can I still claim the third stimulus check if I have not filed my 2020 tax return?
Answer: Yes, you can still claim the third stimulus check even if you have not filed your 2020 tax return. However, you will need to file your 2020 tax return in order to receive the payment.
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These are just a few of the frequently asked questions about the third stimulus check. If you have additional questions, you can visit the IRS website or contact the IRS toll-free number.
In addition to the FAQs, here are some tips for receiving your third stimulus check quickly and easily:
Tips
Here are four tips for receiving your third stimulus check quickly and easily:
Tip 1: File your 2020 tax return as soon as possible.
If you have not already filed your 2020 tax return, you should do so as soon as possible. This is the best way to ensure that you receive your stimulus check quickly. You can file your tax return electronically or by mail.
Tip 2: Use direct deposit to receive your stimulus check.
If you have a bank account, you should provide your bank account information to the IRS so that you can receive your stimulus check via direct deposit. Direct deposit is the fastest and most secure way to receive your payment.
Tip 3: Check the IRS website or call the IRS toll-free number to track the status of your payment.
You can track the status of your stimulus check on the IRS website or by calling the IRS toll-free number. You will need to provide your Social Security number and the zip code on your tax return.
Tip 4: Be patient.
The IRS is processing a large number of stimulus check payments. It may take some time for you to receive your payment. Be patient and continue to check the status of your payment on the IRS website or by calling the IRS toll-free number.
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By following these tips, you can increase your chances of receiving your third stimulus check quickly and easily.
In conclusion, the third stimulus check was a direct payment from the federal government to eligible Americans to provide economic relief during the COVID-19 pandemic. The amount of the payment varied depending on several factors, including income, filing status, and the number of dependents. The majority of payments were issued via direct deposit, but some individuals received paper checks or debit cards. If you have not yet received your third stimulus check, you can file a payment trace with the IRS to track down your missing payment.
Conclusion
The third stimulus check was a direct payment from the federal government to eligible Americans to provide economic relief during the COVID-19 pandemic. The amount of the payment varied depending on several factors, including income, filing status, and the number of dependents. The majority of payments were issued via direct deposit, but some individuals received paper checks or debit cards.
To be eligible for the third stimulus check, you needed to be a U.S. citizen or a resident alien with a valid Social Security number, your AGI needed to be below certain limits, and you needed to meet certain filing status requirements. If you met all of the eligibility criteria, you were entitled to receive the full amount of the third stimulus check.
If you have not yet received your third stimulus check, you can file a payment trace with the IRS to track down your missing payment. You can also check the status of your payment on the IRS website or by calling the IRS toll-free number.
Closing Message:
The third stimulus check was a significant financial assistance for many Americans during the COVID-19 pandemic. If you are eligible for the payment, we encourage you to claim it as soon as possible.