Stimulus Payment Calculator — COVID-19 Economic Impact Payments

Formula

How this is calculated

All three COVID-19 stimulus rounds paid a base amount per adult and per qualifying dependent, then reduced it for households with income above a threshold. For Rounds 1 (CARES Act, March 2020) and 2 (December 2020), the reduction was $5 for every $100 of income above the threshold — so a single filer earning $80,000 lost $250 from Round 1's $1,200 base, receiving $950. Round 2 used the same phase-out rate but lower base amounts ($600 per adult and per child under 17).

Round 3 (American Rescue Plan, March 2021) used a steeper phase-out. Instead of $5 per $100, it reduced payments proportionally between the threshold and a hard zero-cutoff: $80,000 for single filers, $120,000 for heads of household, and $160,000 for married couples filing jointly. Round 3 also expanded eligibility to all qualifying dependents — not just children under 17 — and paid $1,400 per person including adult dependents.

Payments were based on 2019 or 2020 tax returns (whichever the IRS had processed first). Advance payments that exceeded the amount you were entitled to based on your actual 2020/2021 income did not need to be repaid, and if you received less than you qualified for, you could claim the Recovery Rebate Credit on your tax return.