The American Rescue Plan provides relief for millions of Americans through numerous measures, including a third round of stimulus checks, unemployment benefit extensions, and expansions of the Child Tax Credit and the federal Earned Income Tax Credit (EITC).
This means if you qualify for a third stimulus check, you could get up to $1,400 for each taxpayer in your household plus $1,400 for each dependent.
Generally, you should qualify if:
- You’re a U.S. citizen or U.S. resident alien
- You have a valid Social Security number
- You’re not claimed as a dependent on anyone else’s return, and
- Your adjusted gross income (AGI) is less than
- $150,000 if you’re married and filing a joint return or a qualifying widow
- $112,500 if you’re filing as head of household, or
- $75,000 if you’re filing single or married filing separately
If your AGI is above those amounts, your payment will be reduced (“phased out”). If your AGI is above the amounts below, you won’t receive a third stimulus payment.
- $160,000 if you’re married and filing a joint return or a qualifying widow
- $120,000 if you’re filing as head of household, or
- $80,000 if you’re filing single or married filing separately
To find out if you are eligible and how much you can expect, visit our stimulus calculator.
Do I need to apply to get a stimulus check?
You don’t need to do anything to get your stimulus check. The IRS will determine eligibility based on your last tax return (either 2019 or 2020) and will likely send your payment to the bank account where your tax refund was deposited.
When will I get my stimulus check?
The IRS has begun distributing stimulus payments and we expect people could receive their stimulus payments as early as next week (March 17th).
For information on when you can expect your stimulus payment, check the IRS Get My Payment tool which will be updated starting the week of March 15th.
What about my state's stimulus?
If your state has a stimulus program in place, you don’t need to do anything to get your state stimulus check.
Stimulus payment FAQs
Why is the IRS Get My Payment tool showing bank account information that's different from my 2020 tax return?
The Plan also provides a $300 federal increase to weekly unemployment payments and extends two key pandemic unemployment benefits programs through September 6, 2021.
The first $10,200 of unemployment payments are now tax-free for households with an annual income under $150,000.
If you’ve already filed your 2020 return, you should not do anything. The IRS will refigure your taxes and send any refund amount directly to you. Go here for more unemployment updates as they become available.
Expanded Child Tax Credit
Starting in tax year 2021, the Plan increases the Child Tax Credit from $2,000 to:
- $3,600 for each child under 6
- $3,000 for each child age 6–17
It also makes the credit fully refundable, meaning you’ll be eligible to get it even if you don’t owe taxes.
Starting in July, payments for the Credit will be sent in advance so you won’t have to wait to file your 2021 taxes to receive that amount.
You don’t have to do anything to get these payments. The IRS will likely determine eligibility based on your most recent tax filing.
To view your eligibility and advance payments, or to unenroll from getting advance payments, go to the IRS Child Tax Credit Update Portal.
Federal Earned Income Tax Credit
Starting in tax year 2021, the Federal Earned Income Tax Credit (EITC) has been expanded for workers without kids and nearly triples the maximum credit. Eligibility is also extended for a wider range of tax filers, including those who are over 65 or between the ages of 19–25.
When you file your return next year, we’ll check if you qualify and ensure you get the maximum credit amount you can.
Advance Premium Tax Credit relief
The Plan also relieves eligible taxpayers of having to pay back any excess advance premium tax credit they took. If you used any credit to lower your monthly health insurance payment when you applied for coverage in the Health Insurance Marketplace®, you might not have to pay it back under the new law.
When you enter your 1095-A in TurboTax, we’ll determine your eligibility whether or not you have to pay back any amount.
Check out the latest release from the IRS about the Advance Premium Tax Credit.