The third round of Economic Impact Payments will be based on a taxpayer’s latest processed tax return from either 2020 or 2019, with payment amounts ranging from $1,400 for a single person or $2,800 for a married couple filing jointly. Additional $1,400 are available for any dependent child.
The full stimulus payment will also be available to individuals earning up to $75,000 and married couples with incomes up to $150,000.
The IRS noted that the “Get My Payment” tool would be “updated once per day, usually overnight.” Therefore, people are encouraged not to check their information hourly.
The agency stressed out that the tool provides all available information and asked people not to call it phone assistance service as the operators don’t have information beyond what’s on the website.
How to use the IRS “Get My Payment”
The “Get My Payment” tool is available on the IRS’ website at www.irs.gov/coronavirus/get-my-payment.
To use the “Get My Payment” tool, users are required to enter their full Social Security number or tax ID number, date of birth, street address, and ZIP code.
The tool will display the status of when a payment has been issued and the payment date for direct deposit or mail.
Some users might get a message stating that “Payment Status Not Available,” which means that the payment is either not yet processed, or that the user is not eligible for a payment.
A “Need More Information” message could be displayed if the payment was returned to the IRS because the post office was unable to deliver it for another reason.
According to the IRS, the easiest way to update your address is by filling your 2020 tax return with your current address. The agency will reissue your payments once they receive your filings.
The first and second Economic Impact Payments will no longer appear in the “Get My Payment” tool. The IRS notes that the third stimulus payment will not be used to calculate any differences if you didn’t get the full amount of the first or second payment you were eligible for.
To receive the difference, you can claim the 2020 Recovery Rebate Credit and file a 2020 tax return even if you are not required to file.