Economic Impact Payment (2024)

FAQs

Who qualifies for the economic impact payment? ›

Individuals with a Social Security number (SSN) who cannot be claimed as a dependent and have an adjusted gross income of less than $75,000 – or less than $150,000 if married and filing a joint return – qualify for the full EIP amount.

Payment Amounts

$1,200 (or $2,400 if married filing jointly) plus $500 for each qualifying child under 17 is the maximum amount you could receive.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides for Economic Impact Payments to American households of up to $1,200 per adult for individuals whose income was less than $99,000 (or $198,000 for joint filers) and $500 per child under 17 years old.

The IRS has issued all first, second and third Economic Impact Payments. You can no longer use the Get My Payment application to check your payment status. Most eligible people already received their Economic Impact Payments.

Eligibility for $200 Raise & $2000 4th Stimulus Check

The applicant must be a resident of the United States and be 65 years of age or older, or disabled, additionally individuals or couples must have filed their taxes and make less than $150,000 or $75,000 annually.

Single people making less than $75,000, heads of household making less than $112,500, and married couples filing jointly making less than $150,000 qualify for stimulus checks.

Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds.

The Middle Class Tax Refund (MCTR) was a one-time payment issued to eligible recipients between October 2022 and January 2023, to provide relief to Californians.

You would not be required to file a tax return. But you might want to file a return, because even though you are not required to pay taxes on your Social Security, you may be able to get a refund of any money withheld from your paycheck for taxes.

Visit https://www.irs.gov/coronavirus/get-my-payment to check the status of your EIP.

Is the IRS still sending out economic impact payments? ›

Most eligible people already received the full amount of their credit in advance and don't need to include any information about this payment when they file their 2021 tax return. As required by law, the IRS is no longer issuing third-round Economic Impact Payments.

How can I check the status of my payment? The IRS has an online portal you can use at IRS.gov/coronavirus/get-my-payment. It may not be available when you visit because of heavy traffic, so keep checking if you can't get through. How much will I get?

Your Recovery Rebate Credit amount will be phased out if your adjusted gross income for 2020 exceeds $150,000 if you are married filing a joint return or filing as a qualifying widow or widower, $112,500 if you are using the head of household filing status, or $75,000 if you are using any other filing status.

That depends on your income, marital status, dependents, and the relief package in question—here's a basic overview: Individual taxpayers: $1,200 from EIP1. $600 from EIP2.

Everyone who is applying should be living in the United States of America. They also need to have valid citizenship in America. Individuals living alone should have an income of less than $75,000. Married couples living together must also have an income of less than $150,000 if they file taxes jointly.

It further explains that the eligibility criteria for this stimulus check applies to homeowners who earn $150,000 or less in their income. Those with incomes of $250,000 will receive a $1,000 stimulus check. It must be noted that the new $1,500 stimulus check will be a one-time rebate.

Visit https://www.irs.gov/coronavirus/get-my-payment to check the status of your EIP.

Check the status of your stimulus check on the IRS Get My Payment website.