If your 2020 return is filed and/or processed after the IRS sends you a stimulus check, but before Aug(or September 1 if the May 17 filing deadline is pushed back any further), the IRS will send you a second payment for the difference between what your payment should have been if based on your 2020 return and the payment actually sent based on your 2019 return. If your 2020 return isn't filed and processed at that point, the IRS will use your 2019 return. If your 2020 return is already filed and processed when the IRS is ready to send your payment, your stimulus check will be based on information from your 2020 return.
Your filing status, AGI, and number of dependents will be taken from either your 2019 or 2020 return. Third-round stimulus checks will be completely phased out for single filers with an AGI above $80,000, head-of-household filers with an AGI over $120,000, and joint filers with an AGI exceeding $160,000.
That threshold jumps to $112,500 for head-of-household filers, and to $150,000 for married couples filing a joint return. If you filed your most recent tax return as a single filer, your third stimulus check will be phased-out if your AGI is $75,000 or more. As with the first two stimulus payments, third-round stimulus checks will be reduced – potentially to zero – for people reporting an adjusted gross income (AGI) above a certain amount on their latest tax return.
#Will there be a third stimulus check full
Families Get a $3,000 Child Tax Credit for 2021īut not all people will receive the full amount.
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