Business & farm

https://www.irs.gov/newsroom/more-details-about-the-third-round-of-economic-impact-payments

 

Who is eligible for the third Economic Impact Payment and what incomes qualify?

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.