COVID-19 TAX CENTER:
A third stimulus check is coming
The American Rescue Plan includes up to $1,400 in stimulus payments for each eligible taxpayer, plus an
additional $1,400 per dependent. We know how important this money is to you, and we’re here to help.
What do I need to do to get my third stimulus payment?
If you filed your taxes in 2019 or 2020, you’re all set—the IRS is sending your payment to the
same bank account or mailing address on your return. There’s nothing you can do to
change where your payment is sent.
You can check the status of your payment with the IRS Get My Payment tool.
Stimulus check FAQs
Here are some helpful answers for you
How much is the third stimulus check?
Each eligible taxpayer can receive up to $1,400, plus an additional $1,400 per dependent. That means that a family of four with two children could receive $5,600. Remember, just because you are eligible doesn’t mean you are eligible for the full $1,400.
Who is eligible to receive a 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 stimulus checks for a smaller amount.
Unlike the previous two rounds, you will receive stimulus payments for all your dependents, including adult dependents and college students.
When will I get my stimulus check?
The first batch of stimulus payments arrived as early as the weekend of March 12, with more arriving over the next week. Further batches of payments will arrive during the following weeks by direct deposit, as well as checks or debit cards through the mail in some cases.
How will I receive my stimulus payment?
There is nothing you need to do to get a stimulus payment. The IRS has begun issuing stimulus payments using the most recent information they have on file, from your 2019 or 2020 tax return, either by direct deposit or by check.
Taxpayers with direct deposit information on file will receive the payment that way. Those without current direct deposit information on file will receive the payment as a check. We have confirmed with the IRS that they have the accurate banking information for all TurboTax filers, which the IRS is able to use to deposit stimulus payments.
What if someone claimed me as a dependent?
If you are claimed as a dependent on someone else’s return you are not eligible for a stimulus payment.
Where can I find more information on stimulus payments?
You can learn more at the IRS Economic Impact Payment Information Center.
What will COVID-19 mean for my 2020 taxes?
For the latest on the tax implications of the coronavirus pandemic, check out our COVID Tax Hub.
Why is my stimulus payment a different amount than I expected?
Eligibility for stimulus payments is determined by the IRS based on your adjusted gross income (AGI).
Adjusted gross income (AGI) is your gross income like wages, salaries, or interest, minus adjustments for eligible deductions like student loan interest or your IRA deduction. Your AGI can be found on line 8b of your 2019 Form 1040 or on line 11 of your 2020 Form 1040.
If you have an AGI of up to $75,000 ($150,000 married filing jointly), you could be eligible for the full amount of the recovery rebate. As your AGI increases over $75,000 ($150,000 married filing jointly), the stimulus amount will go down. This means that if your AGI is over these amounts, you will not receive the full amount of the stimulus payment.
What if I received my stimulus payment on a Turbo® Visa® Debit Card?
If you have your card, you can use it anywhere Visa debit is accepted in the U.S. You can also withdraw your stimulus money at more than 19,000 fee-free ATMs across all 50 states.
You can get a replacement card in 8-10 business days, subject to unexpected COVID-19 delay.
What if I received my stimulus payment to my Credit Karma Money Spend or Save account?
If you are eligible to receive a federal stimulus payment as part of ongoing Covid-19 relief and it is being deposited to your Credit Karma Money Spend or Save account, it will be credited to your available balance once we receive the payment from the federal government.
If you had your most recent federal tax refund deposited to your Credit Karma Money Spend or Save account then the IRS will likely deposit any stimulus payments due to you into the same account. If the account was closed or is no longer active, the deposit is returned to the IRS and you may be issued a check to the address the IRS has on file for you. This is generally the address on your most recent tax return or as updated through the United States Postal Service (USPS). Once the funds arrive in your account, you can withdraw them using the same methods that are available for any other funds in your account:
- For Credit Karma Money Spend you can access your funds or withdraw cash using your Credit Karma Visa® Debit card
- Transfer your funds between your Credit Karma Money Spend and Save accounts
- Transfer your funds to your linked external bank account
If you are having trouble accessing the funds in your Credit Karma Money Spend or Save accounts, please contact us for assistance.