Questions & Answers
The IRS sent out a third round of Economic Impact (stimulus) Payments (EIP) in 2021, beginning in March. They based the amount of payment they sent out on the information they had from 2020 or 2019 tax returns.
Common reasons the amount you qualify for may be different from the EIP you received include:
- Your filing status changed.
- The number of children you're claiming is different.
- Your income increased or decreased.
For example, if you received an EIP of $1,400 in 2020 but you qualify for $2,800 based on your 2021 return, your Recovery Rebate Credit will be $1,400.
If the amount you qualify for based on your 2021 tax return is lower than the EIP you received, you don't need to repay any money received.
If you qualify for the Recovery Rebate Credit, we'll ask you for the amount of EIP you received last year and calculate the credit for you.
How do I know how much EIP I received last year?
Go to the IRS website for more information.