The third stimulus check (Economic Impact Payment or EIP) is now being sent to people who are eligible for it. Taxpayers who have their payment information with the IRS can get their stimulus payments direct deposited to their bank accounts or get a paper check or an EIP debit card.
If you don’t know whether or not you received your payment, look for IRS TREAS – TAXEIP3 in your transactions. If you see EIP or EIP2 in your transactions, these are the first or the second stimulus payments. The $1,400 stimulus is referred to as EIP3 since it’s the third stimulus. If you don’t see EIP3 in your bank transactions, you haven’t got it direct deposited into your account yet.
Stimulus checks and EIP cards
There is also the likelihood of a stimulus check being sent to you by paper check or as an EIP card. Know that it takes significantly longer for these to reach their rightful owners than the IRS depositing the funds to bank accounts. To track the status of your third stimulus, use the IRS’ Get My Payment tool. This tool is also known as the Where’s My Stimulus as a reference to the web-based Where’s My Refund tool.
This will enable you to see the exact status of your stimulus payment. All you need to do is provide the tool with your information to verify your identity. Your stimulus check 3 status will be displayed on the tool. You will see basic information about your stimulus such as when it was sent or when the direct deposit is due. However, if you’re going to get a debit card, it will take much longer so you might see the expected date received as of late March or even mid-April.
Third stimulus check calculator
The third stimulus has been rolled out by the IRS and Treasury. The third stimulus amount is $1,400 per individual. So married couples will get $2,800. Here are the income thresholds for the third stimulus for each filing status.
3rd stimulus income thresholds
| Filing Status | Income Threshold |
|---|---|
| Single – Married Filing Separately | $80,000 (phases-out at $99,000) |
| Married Filing Jointly – Qualifying Widow(er) | $160,000 (phases-out at $198,000) |
| Head of Household | $80,000 (phases-out at $120,000) |
The Senate made changes to the third stimulus check as you can see. For the first and second stimulus checks, the income threshold started at $75,000 for single filers which is now increased by $5,000. Those who filed taxes as a head of household were included in the single filer’s income thresholds which haven’t changed but the stimulus completely phases out at $120,000 rather than $99,000 which applied to single filers and married couples filing a separate return.