Economic Impact Payments
Starting in March 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provided Economic Impact Payments of up to $1,200 per adult for eligible individuals and $500 per qualifying child under age 17.
The COVID-related Tax Relief Act of 2020, enacted in late December 2020, authorized additional payments of up to $600 per adult for eligible individuals and up to $600 for each qualifying child under age 17.
The American Rescue Plan Act of 2021 (American Rescue Plan), enacted in early March 2021, provided Economic Impact Payments of up to $1,400 for eligible individuals or $2,800 for married couples filing jointly, plus $1,400 for each qualifying dependent, including adult dependents.
Generally, you were eligible for the first Economic Impact Payment if you are a U.S. citizen or U.S. resident alien, you were not claimed as a dependent of another taxpayer, and you have a Social Security number valid for employment. Payments of $1,200 ($2,400 for a joint return) were issued to individuals whose adjusted gross income (AGI) did not exceed:
$150,000 if married and filing a joint return
$112,500 if filing as head of household or
$75,000 for eligible individuals using any other filing status
Payments were reduced by 5% of the amount by which your AGI exceeds the applicable threshold above.
To claim the 2020 or 2021 Recovery Rebate Credit, visit: https://www.irs.gov/newsroom/recovery-rebate-credit
People who are missing a stimulus payment or got less than the full amount may be eligible to claim a Recovery Rebate Credit on their 2020 or 2021 federal tax return.
The first and second rounds of Economic Impact Payments were advance payments of the 2020 Recovery Rebate Credit claimed on a 2020 tax return. They were issued in 2020 and early 2021.
The third round of Economic Impact Payments, including the plus-up payments, were advance payments of the 2021 Recovery Rebate Credit claimed on a 2021 tax return. It was issued starting in March 2021 and continued through December 2021.