Stimulus Checks: A Guide to the Economic Impact Payments

What are Stimulus Checks?

The IRS has issued all first, second, and third Economic Impact Payments to eligible individuals and households. These stimulus checks were provided as a financial relief measure during the pandemic.

Eligibility for Stimulus Checks

• Individuals with adjusted gross income (AGI) levels of $75,000 or below are eligible for full payment.
• Couples filing jointly with AGI levels of $150,000 or below are also eligible for full payment.

How Much Did I Receive?

The amount of the stimulus check varied based on individual circumstances. The first stimulus check was up to $1,200 for individuals and $2,400 for married couples, plus $500 per qualifying child under the age of 17.

History of Stimulus Checks

Starting in March 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) provided Economic Impact Payments of up to $1,200 per adult for individuals with AGI levels below $75,000.

Totals and Distribution

More than 476 million payments totaling $814 billion in financial relief went to households impacted by the pandemic. The government distributed three stimulus payments to eligible families in 2020 and 2021 to help during the economic crisis caused by the Coronavirus.

For more information on stimulus checks, visit the IRS website at https://www.irs.gov/coronavirus-tax-relief-and-economic-stimulus.