While you may have heard them referred to as stimulus checks, the Economic Impact Payments were for the most part direct deposited into bank accounts or sent out as bank cards. More than 472 million payments totaling $803 billion in financial relief went to households impacted by the pandemic. The Internal Revenue Service (IRS) based the amounts that individuals received on income, tax filing status, and number of children (or qualifying dependents, like a relative).
How much was paid for each of the three rounds?
First round, from the CARES Act, March 2020
- $1,200 per income tax filer, $500 per child
Second round, from the Consolidated Appropriations Act, December 2020
- $600 per income tax filer, $600 per child
Third round, from the American Rescue Plan Act, March 2021
- $1,400 per income tax filer, $1,400 per child
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Source: Internal Revenue Service, data is as of June 2021