The CARES Act, the Consolidated Appropriations Act, 2021, and the American Rescue Plan Act of 2021 (Public Laws 116-136, 116-260, and 117-2, respectively) authorized three rounds of Economic Impact Payments (EIPs) that went to around 165 million Americans. ![]() Big Pictureįrom April 2020 to December 2021, the federal government made direct payments to individuals totaling $931 billion to address pandemic-related financial stress. We made recommendations to strengthen Treasury and IRS’s outreach and communications efforts for the billions of dollars in similar tax credits IRS administers, such as the Earned Income Tax Credit. However, some eligible Americans never received payments. The same holds true with a third stimulus check.In 20, IRS and Treasury issued $931 billion in direct payments to individuals to ease financial stress due to the COVID-19 pandemic. For example, the most important factor in setting income limits is your AGI, which determines how much of the total stimulus payment you would be entitled to receive. Taxes and stimulus check eligibility: The two go hand-in-handįor most people, taxes and stimulus checks are tightly related.
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