Those eligible will automatically receive an Economic Impact Payment of up to $1,400 for individuals or $2,800 for married couples, plus $1,400 for each dependent. Unlike EIP1 and EIP2, families will get a payment for all their dependents claimed on a tax return, not just their qualifying children under 17. Normally, a taxpayer will qualify for the full amount if they have an adjusted gross income of up to $75,000 for singles and married persons filing a separate return, up to $112,500 for heads of household and up to $150,000 for married couples filing joint returns and surviving spouses. Payment amounts are reduced for filers with incomes above those levels.

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Generally, if you are a U.S. citizen or U.S. resident alien, you are eligible for the full amount of the third Economic Impact Payment if you (and your spouse if filing a joint return) are not a dependent of another taxpayer and have a valid Social Security number (see exception when married filing jointly) and your adjusted gross income (AGI) on their tax return does not exceed:

• $150,000 if married and filing a joint return or if filing as a qualifying widow or widower
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• $112,500 if filing as head of household or
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• $75,000 for eligible individuals using any other filing statuses, such as single filers and married people filing separate returns.

Payments will be phased out – or reduced -- above those AGI amounts. This means taxpayers will not receive a third payment if their AGI exceeds:

• $160,000 if married and filing a joint return or if filing as a qualifying widow or widower
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• $120,000 if filing as head of household or
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• $80,000 for eligible individuals using other filing statuses, such as single filers and married people filing separate returns.

For example, a single person with no dependents and an AGI of $77,500 will normally get a $700 payment (half the full amount). A married couple with two dependents and an AGI of $155,000 will generally get a payment of $2,800 (again, half the full amount). Filers with incomes of at least $80,000 (single and married filing separately), $120,000 (head of household), and $160,000 (married filing joint and surviving spouse) will get no payment based on the law.

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As the IRS sends out the last of the third round of stimulus checks and tops off payments for millions of other Americans, some lawmakers are already pushing for a fourth check.

The third stimulus payments — worth up to $1,400 per individual and each of his or her dependents — currently being delivered by the IRS will help many families with bills like rent and groceries.

But while finances for many American households are improving, millions are financially struggling more than a year after the first coronavirus-induced shutdowns. Almost 30% of Americans couldn’t cover all of their household expenses in late March, according to the latest U.S. Census Bureau data collected March 17-29. About 18 million adults are still going hungry each month.

The continued economic fallout from the pandemic is why a group of 21 Democratic Senators recently sent a letter to President Joe Biden asking him to include recurring direct payments and automatic unemployment insurance extensions in his long-term economic plan.

The lawmakers, including Senate Finance Committee Chair Ron Wyden, D-Ore., and Budget Committee Chair Bernie Sanders, I-Vt., argue that the third stimulus payment, a provision of Biden’s $1.9 trillion American Rescue Plan (ARP) signed into law in early March, would not last many cash-strapped families long.

So far, Biden has not indicated publicly that he supports a fourth stimulus payment. For now, the president seems focused on passing his $2 trillion-plus infrastructure plan that aims to improve transportation infrastructure and affordable housing, among other things.

“This crisis is far from over, and families deserve certainty that they can put food on the table and keep a roof over their heads,” the Senators wrote in their letter. “Almost 6 in 10 people say the $1,400 payments set to be included in the rescue package will last them less than three months.”

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Americans who collected unemployment insurance in 2020 and filed their taxes before claiming a new tax break on the benefits can expect to receive an automatic refund in May, the IRS announced this week.

The agency announced last month that eligible individuals would not have to file an amended return on their own to claim the tax waiver on up to $10,200 of the benefits.

The waiver, which is part of the American Rescue Plan (ARP) signed into law by President Joe Biden in March, applies to individuals and couples who earned less than a modified adjusted gross income of $150,000 in 2020.

It increases to up to $20,400 for couples who are married and filing jointly if both spouses collected unemployment benefits.

The IRS plans to refund any tax payments to individuals first, followed by couples who filed jointly. The repayments will come in phases, continuing through the summer. The agency notes that most people will not need to take action on their own to get the refund.

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