Up to date FAQs and information from the IRS for both filers and non-filers, HERE.
THIRD ECONOMIC IMPACT PAYMENT:
The American Rescue Plan (H.R. 1319) signed into law on March 11, 2021 provides an additional direct payment of $1,400 per person for all eligible Americans.
Generally, if you are a U.S. citizen or U.S. resident alien, you are eligible for the full amount of the third Economic Impact Payment if you (and your spouse if filing a joint return) are not a dependent of another taxpayer and have a valid Social Security number (see exception when married filing jointly) and your adjusted gross income (AGI) on their tax return does not exceed:
$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.
Payments will be phased out – or reduced -- above those AGI amounts. This means taxpayers will not receive a third payment if their AGI exceeds:
$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 or
$80,000 for eligible individuals using other filing statuses, such as single filers and married people filing separate returns.
SECOND ECONOMIC IMPACT PAYMENT:
H.R. 133, signed into law on December 24, 2020, authorized direct payments of $600 to eligible adults and children. In most cases, the IRS will automatically send you your payment.
Generally, if you’re a U.S. citizen or U.S. resident alien, you may be eligible for $600 ($1,200 for a joint return), plus $600 for each qualifying child, if you (and your spouse if filing a joint return) aren’t a dependent of another taxpayer on a 2019 tax return, have a social security number (SSN) valid for employment (see exception when married filing joint) and your adjusted gross income (AGI) does not exceed:
- $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 status
Your payment will be reduced by 5% of the amount by which your AGI exceeds the applicable threshold above.
You aren’t eligible for a payment if any of the following apply to you:
- You were claimed as a dependent on another taxpayer’s 2019 tax return (for example, a child or student who may be claimed on a parent’s tax return or a dependent parent who may be claimed on an adult child’s tax return).
- You don’t have an SSN that is valid for employment issued before the due date of your 2019 tax return (including any extensions).
- You’re a nonresident alien.
- Someone was deceased before 2020.
- Are an estate or trust.
If you are not eligible to receive an EIP, you may be eligible to claim a Recovery Rebate Credit on line 30 of your 2020 tax return. Click HERE to visit my Taxes page for more information.
An FAQ for the second EIP is available, HERE.
FIRST ECONOMIC IMPACT PAYMENT:
Most eligible taxpayers have received their first Economic Impact Payment of $1,200 authorized under the CARES Act.
If you didn’t get the full amount of that Payment, you may be eligible to claim a Recovery Rebate Credit when you file your 2020 federal tax return. Click HERE to visit my Taxes page for more information.
A resource guide with information for Social Security beneficiaries and Supplemental Security Income (SSI) recipients related to the COVID-19 economic impact payments is available HERE.
For more information and resources regarding economic payments for Social Security and SSI recipients, click HERE.
To track the status of your stimulus payment, visit the IRS Get My Payment website, HERE.
Information for non-filers, HERE.
To return an Economic Impact Payment (EIP):
If the payment was a paper check:
- Write "Void" in the endorsement section on the back of the check.
- Mail the voided Treasury check immediately to the IRS location listed below.
- Don't staple, bend, or paper clip the check.
- Include a note stating the reason for returning the check.
If the payment was a paper check and you have cashed it, or if the payment was a direct deposit:
- Submit a personal check, money order, etc., immediately to the IRS location listed below.
- Write on the check/money order made payable to “U.S. Treasury” and write 2020EIP, and the taxpayer identification number (social security number, or individual taxpayer identification number) of the recipient of the check.
- Include a brief explanation of the reason for returning the EIP.
IRS Location for Arizona Residents:
Fresno Internal Revenue Service
5045 E Butler Avenue
Fresno, CA 93888