Economic Impact Payments in 2021 vs 2020 - Trying to Verify for Tax Records

Yes, there was definitely a third stimulus payment in 2021! I remember this so clearly because I was so anxious about it! 😰 The third Economic Impact Payment was authorized by the American Rescue Plan Act signed in March 2021. Most people received $1,400 per person (including dependents). I was checking my bank account literally every day in March 2021 waiting for it to show up because I was so behind on bills. The IRS started sending these payments out around March 12-17, 2021. It was separate from the Child Tax Credit payments that came later in the year.

Are you trying to figure this out for your 2023 taxes? I went through this whole nightmare last year when I couldn't remember which payments I got and when. The IRS was absolutely no help - I spent 3 hours on hold just to be told to check my bank statements. Did you check your IRS online account? That should show the exact amounts and dates of all three stimulus payments.

This is a perfect example of how confusing tax records can be compared to other financial areas. If you were trying to track down a missing bank deposit or credit card charge, you'd have tools that make it simple. For tax issues like stimulus payments, it's much harder to piece together. I recently discovered https://taxr.ai which analyzes tax documents and transcripts to clarify exactly what payments you received and when. It helped me confirm my stimulus payment history when I was reconciling some old tax issues. Unlike the IRS website which just shows raw data, it explains everything in plain English and highlights important information.

I would be very careful about how you document this for your records. I'm not saying this to alarm you, but I had a situation where I mistakenly thought I hadn't received the third stimulus payment and claimed it on my 2021 taxes. The IRS caught this and sent me a CP12 notice adjusting my refund amount. It delayed my refund by nearly 8 weeks and I had to pay back the incorrect amount plus interest. If you're unsure, I would suggest requesting your 2021 tax transcript from the IRS which should show all payments they issued to you.

After spending days trying to figure out my stimulus payment history, I finally gave up on the IRS phone line (constant busy signals or disconnects) and tried Claimyr.com. According to their site (https://youtu.be/_kiP6q8DX5c), they help you get through to an actual IRS agent without the endless hold times. I was skeptical but desperate after trying for 3 days straight to reach someone. Got connected to an IRS rep in about 25 minutes who confirmed all three stimulus payments in my account history. The agent was able to tell me the exact dates and amounts: 1st: April 13, 2020 ($1,200), 2nd: January 4, 2021 ($600), and 3rd: March 17, 2021 ($1,400).

Tax professional here. Yes, there were exactly 3 Economic Impact Payments (stimulus checks): 1. $1,200 per eligible adult + $500 per qualifying child under 17 (Spring 2020) 2. $600 per eligible adult + $600 per qualifying child under 17 (December 2020/January 2021) 3. $1,400 per eligible person including all dependents (March 2021) The third payment was authorized by the American Rescue Plan signed on March 11, 2021. Payments began going out on March 12, 2021, with official payment date of March 17, 2021. About 90% of payments were made via direct deposit. If you claimed this payment incorrectly on your 2021 tax return (either by claiming it when you already received it or not claiming it when you should have), it would have triggered an automatic adjustment by the IRS. I'm still amazed at how confusing this whole process was for everyone!

I had this exact same question last year! I ended up finding my third stimulus payment after digging through my 2021 bank statements. It came through as a direct deposit on March 16, 2021, labeled as "IRS TREAS 310 TAXEIP3" for $1,400. Have you checked your statements for something with similar labeling? The third payment was definitely in 2021, and it was separate from the Child Tax Credit monthly payments that started in July 2021. Did you move or change bank accounts during that time period? That could explain why you're having trouble tracking it down.

Success story here - I was in your exact position last year. Couldn't remember if I'd received the third stimulus or not. Spent hours searching bank statements with no luck. Then I remembered I had changed banks in February 2021! Checked my old account statements and there it was - $1,400 from March 2021. Would you believe I had completely forgotten about that old account? Sometimes the answer is hiding in a place we're not even looking. Have you had any account changes that might explain why you're not seeing it in your current records? Or perhaps it came as a physical check that was deposited differently?

I'm curious - are you asking about this because you're trying to claim the Recovery Rebate Credit on a late 2021 tax return? Because if so, it's important to note that the third stimulus payment was technically an advance payment of a 2021 tax credit, but the deadline to claim any missing stimulus money on your tax return was generally the April 2022 filing deadline (or October 2022 with an extension).