When does the 3rd stimulus check come out

For information on the third coronavirus relief package, please visit our “American Rescue Plan: What Does it Mean for You and a Third Stimulus Check” blog post.

A third round of stimulus checks is on the way for millions.

The American Rescue Plan, a new COVID relief bill, was signed into law on March 11, 2021. The bill includes a third round of stimulus payments for millions of Americans. We know these funds are important to you, and we are here to help.

If you are eligible, you could get up to $1,400 in stimulus checks for each taxpayer in your family plus an additional $1,400 per dependent. This means a family with two children could receive $5,600.

The IRS began issuing the first batch of stimulus payments, and they could arrive as early as this weekend (March 13-14), with more arriving over the coming week. Further batches of payments will arrive during the following weeks. If you’re eligible, check the status of your stimulus payment and the way it’ll be sent to you by going to the IRS Get My Payment Tool, which will be live on March 15th.

To find out if you are eligible and how much you can expect, visit our stimulus calculator.

Who would be eligible for the third stimulus check?

Families earning less than $150,000 a year and individuals earning less than $75,000 a year should get the full $1,400 per person. Families earning up to $160,000 per year and individuals earning up to $80,000 per year will receive prorated stimulus checks for less than $1,400 max.

Unlike the previous two rounds, you will receive stimulus payments for all your dependents, including adult dependents and college students.

How much is the third stimulus check?

If you are eligible, you could get up to $1,400 in stimulus payments for each taxpayer in your family plus an additional $1,400 per dependent. That means that a family of four with two children could receive up to $5,600.

Remember, just because you are eligible, does not mean you are eligible for the full $1,400.

To find out if you are eligible and how much you can expect, visit our stimulus calculator.

How will I get my third stimulus check?

You don’t need to do anything to get your stimulus check. The IRS will determine eligibility based on the last tax return that you filed, either 2019 or 2020, and will likely send your payment to the bank account where your tax refund was deposited.

As part of the income tax filing, the IRS receives accurate banking information for all TurboTax filers who received a tax refund, which the IRS is able to use to quickly and effectively deposit stimulus payments.

When will I get my stimulus check?

The IRS has begun distributing stimulus payments. The first batch of stimulus payments could arrive as early as this weekend (March 13-14), with more arriving over the coming week. Further batches of payments will arrive during the following weeks.

For information on when you can expect your stimulus payment, check the IRS Get My Payment tool, which will be live starting March 15th.

Do I need to do anything to get my 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.

Can I change or update my bank information?

Right now, there is no way to change your information for your stimulus check. The payment will be based on the information from your latest tax return and will go to the bank account or address the IRS has on file for you.

Will the stimulus affect my taxes for this year? Or next year?

None of the three stimulus checks (or Recovery Rebate Credits) are considered income, and therefore aren’t taxable. They won’t reduce your refund or increase what you owe when you file your taxes this year, or next. They also won’t affect your eligibility for any federal government assistance or benefits.

Let an expert do your taxes for you, start to finish with TurboTax Live Full Service. Or you can get your taxes done right, with experts by your side with TurboTax Live Assisted. File your own taxes with confidence using TurboTax. Just answer simple questions, and we’ll guide you through filing your taxes with confidence. Whichever way you choose, get your maximum refund guaranteed.

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• A third stimulus check is coming to millions of US households this month.
• Direct deposits will start hitting bank accounts as soon as March 13 or 14, with checks being mailed soon after. 
• Checks are worth up to $1,400 per person, including dependents.
• Visit Personal Finance Insider for more stories.

It's official: A third round of stimulus checks is coming.

President Joe Biden signed the American Rescue Plan on Thursday. Shortly after, White House Press Secretary Jen Psaki said, "People can expect to start seeing direct deposits hit their bank accounts as early as this weekend."

Qualifying Americans are getting up to $1,400 each, plus an extra $1,400 for each dependent they claim.

A stimulus check is a non-taxable cash payment sent to qualifying Americans by direct deposit, check, or debit card. The money can be used however you want and does not need to be repaid to the government — even if you get too much.

Other names for stimulus checks include Economic Impact Payments and the Recovery Rebate Credit.

When should we expect the 3rd stimulus check?

Stimulus checks sent via direct deposit will start appearing in bank accounts around March 13 or 14, according to the White House. Those with direct deposit will get their money the fastest. Checks — and debit cards, if the IRS uses them — will be mailed in the following weeks.

The IRS has already delivered two rounds of stimulus payments to date, so the system is in place for quickly disbursing the money once again.

But we can't forget it's tax season. The IRS is currently processing millions of tax returns and paying out refunds. The added task of delivering stimulus checks might cause some delays. However, Psaki said the agency is doing what it can to get money to people as quickly as possible.

How much will I get for the 3rd stimulus check?

The third stimulus check is worth up to $1,400 per individual, including dependents, and $2,800 for married couples. It's the largest payment yet and is meant to "top off" the $600 sent to qualifying Americans in December and January for a total of $2,000.

However, the income eligibility requirements differ from the last round of payments so not every person who received a $600 check will get one this time.

There are two basic requirements to get a third stimulus check: You need a Social Security number and you need to have adjusted gross income for 2019 — or 2020 if you have already filed — that meets the income limits. 

Americans with AGIs of $75,000 or less will get the full $1,400 payment — including dependents of any age. This is a break from the past two relief bills, which did not include payments for dependents age 17 and over but did include smaller amounts for children. 

Married joint filers with AGIs of $150,000 or less will get $2,800 and head-of-household filers with AGIs of $112,500 will get $1,400.

Partial payments will go to the following groups:

• Single filers with AGIs under $80,000 
• Head-of-household filers with AGIs under $120,000
• Married joint filers with AGIs under $160,000

People who aren't required to file income-tax returns can also get payments. Information collected through the IRS nonfilers tool will likely be used to send the checks to these recipients. Also, Social Security retirement and disability beneficiaries and Supplemental Security Income recipients who don't file taxes can get payments.

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