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Economic Stimulus

For Individuals

Dollars

During 2020, individuals received stimulus payments to provide help with monthly financial obligations such as rent, utilities, or groceries. There were some income limits that applied depending on filing status and "adjusted gross income" reported on the tax return.

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The IRS used either the 2018 or 2019 tax return to determine stimulus eligibility and amount. Stimulus payments were deposited electronically if direct deposit was requested when filing 2018 or 2019 tax return. For all others, the stimulus was received by mail either as a check or in a debit card.

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Taxpayers that did not request their refund as a direct deposit when a 2018 or 2019 tax return was filed, were given the option to provide the IRS with banking information. Non-filers (those who are not required to file a tax return), also needed to provide banking information in order to receive the stimulus payment via direct deposit.

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**NOTE** The stimulus payment was not available for non-residents, individuals with ITINs, estates or trusts, or individuals who may be claimed as dependents (even if they are not actually claimed) on the first phase of stimulus funds in May 2020.

 

The consolidated Appropriations Act passed on December 27, made it retroactive for spouses and children of ITIN holders to obtain the economic stimulus if the have a valid social security number.

 

**NOTE** Taxpayers who owe child support that is registered with the Treasury will not receive stimulus payments.

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I filed 2018 or 2019 taxes

but did not request

direct deposit

I am not required to file but I would like to receive the stimulus via direct deposit

Below are the stimulus amounts taxpayers will receive and the income limits that will apply. If you want to calculate how much stimulus payment you will receive, click on this calculator icon to find out:

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Stimulus Payment Amounts

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  • $1,200 for individuals (single and head of household)

  • $2,400 for married couples

  • $500 for each dependent under age 17

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Adjusted Gross Income Limits

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Stimulus payments are based on adjusted gross income limits. The following chart will explain how it works in terms of which income will receive the full amount, at what income it begins to phase out and what income does not qualify.

Stimulus Is Full Amount

If Income Is Below

Stimulus Is Pro-Rated

If Income Is Between

No Stimulus

If Income Is Over

  • $75,000 for single

  • $112,500 for head of household

  • $150,000 for married filing jointly

  • $75,001 to $98,999 for single

  • $112,501 to $146,499 for head of household

  • $150,001 to $197,999 for married filing jointly

  • $99,000 for single

  • $146,500 for head of household and 1 dependent (add $10,000 for each additional dependent)

  • $198,000 for married filing jointly and no dependents (add $10,000 for each additional dependent)

**NOTE** Taxpayers who are recipients of social security will receive a flat $1,200 stimulus payment and will be automatically deposited

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