President Biden has signed the COVID relief bill, which means most Americans will be receiving a 3rd stimulus check.
How much will you be paid?
- Individuals: $1,400
- Couples: $2,800
- You will also receive an additional $1,400 for each dependent you claim on your tax return.
What are the income limits to receive the check?
Your payment will be reduced and phased out at the following income levels
- Single $75,000, fully phased out at $80,0000
- Married Filing Joint $150,000, fully phased out at $160,000
- Head of Household $112,500, fully phased out at $120,000
When and how will you receive your money?
The IRS will either issue you a check or direct deposit the money into the account listed on your most recently filed tax return (2019 or 2020).