IRS Statistics of Income, Table 1: First Round of Economic Impact Payments, by Size of Adjusted Gross Income, Calendar Year 2020

Summary

This IRS Statistics of Income table reports First Round Economic Impact Payments for Calendar Year 2020 by size of adjusted gross income, with money amounts in thousands of dollars. For all returns, it lists 161943888 payments totaling 271421554, split into payments made electronically, by paper check and by debit card. Footnotes explain that section 6428 of the Internal Revenue Code, added by the CARES Act, provides a refundable credit of up to $1,200 ($2,400 for a joint return) plus $500 per qualifying child, phasing out at 5% of AGI above a threshold. Eligibility and amount were based on the Tax Year 2019 return or, if none was filed, the Tax Year 2018 return. The source line reads IRS, RAAS, January 2021.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Full text

Text extracted from the spreadsheet file: one line per row, cells separated by tabs, each sheet headed by its name. Numbers appear as stored, without the workbook’s formatting.

Sheet: TBL14
Table 1.  First Round of Economic Impact Payments [1], by Size  of Adjusted Gross Income, Calendar Year 2020
(Money amounts are in thousands of dollars)
Size of adjusted gross income [2]	Total
	Total economic impact payments		Economic impact payments paid electronically		Economic impact payments paid by paper check		Economic impact payments paid by debit card
	Number of payments	Amount	Number of payments	Amount	Number of payments	Amount	Number of payments	Amount
	1	2	3	4	5	6	7	8
All returns, total	161943888	271421554	122526361	208943801	35837168	56127493	3580359	6350260
No adjusted gross income [3]	1387278	2398163	353500	654800	1032075	1740516	1703	2846
$1 under $10,000	20665069	28825436	11875714	16520704	8720099	12215598	69256	89134
$10,000 under $20,000	19517135	30695229	13027218	20617071	6478983	10061074	10934	17084
$20,000 under $30,000	17988129	28801064	14057760	22784011	3920687	6001674	9682	15379
$30,000 under $40,000	15470692	25320858	12599362	20896017	2861841	4409614	9489	15228
$40,000 under $50,000	12195121	20626941	9818052	16837621	2368533	3775312	8536	14008
$50,000 under $60,000	9887524	17505686	7823116	14079593	2054575	3409557	9833	16536
$60,000 under $75,000	11570876	22146162	9127275	17921713	1638694	2849492	804907	1374957
$75,000 under $100,000	13662114	27120976	10552226	22095308	2066482	3384220	1043406	1641447
$100,000 under $200,000	16985976	40196184	12592010	31227789	2848508	5841610	1545458	3126785
$200,000 or more [4]	412372	246378	249833	155082	97288	56679	65251	34617
Payments to individuals not based on a TY 2018 or TY 2019 Form 1040 [5]	22201602	27538479	20450295	25154093	1749403	2382148	1904	2239
[1] Section 2201(a) of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), Public Law 116-136, 134  Stat. 281 (March 27, 2020) added section 6428 to the Internal Revenue Code (Code).  Section 6428(a) provides an eligible  individual for their first taxable year beginning in 2020 a refundable tax credit of up to $1,200 ($2,400 for eligible  individuals filing a joint tax return), plus $500 per qualifying child of the eligible individual.  This tax credit is  referred to in section 6428 as a “2020 recovery rebate for individuals.”  Section 6428(f)(3)(A) instructs the  Secretary of the Treasury to make advance refunds of this credit “as rapidly as possible” and before January 1, 2021.   The IRS refers to the advance refund of this credit as an economic impact payment Economic Impact Payment (EIP).  EIPs made under section 6428 are referred to as a "First Round EIP."   The credit phases out at a rate of 5% of the taxpayer’s adjusted gross income (AGI) in excess of a threshold.  The  threshold is $150,000 in the case of a joint return, $112,500 in the case of a head of household, and $75,000 otherwise.   Those ineligible for the credit are (1) nonresident alien individuals, (2) individuals who can be claimed as a  dependent by another taxpayer, and (3) an estate or trust.  When spouses file jointly, both spouses must have a valid  social security number (SSN) to receive the credit, unless either spouse is a member of the U.S. Armed Forces at any  time during the taxable year.  In that case, only one spouse needs to have a valid SSN.   Eligibility for, and the amount of, a First Round EIP was based on an individual’s Tax Year 2019 return, or if a Tax Year 2019  return was not filed, the individual’s Tax Year 2018 return.  Eligible individuals who otherwise did not have a tax filing  obligation but received Social Security benefits, Railroad Retirement benefits, compensation and pension benefit  payments from the Veterans Administration, or Supplemental Security Income received a First Round EIP without having to  file a return.  Other eligible individuals who otherwise did not have a tax filing obligation needed to submit  information through the “Non-filers: Enter Your Information Here” online portal, or through other special or simplified  procedures provided by the IRS, to receive a First Round EIP.  Eligible individuals who did not receive some or all of the recovery rebate credit to which they are entitled as a First Round EIP may claim the remaining amount of the recovery rebate credit when filing their 2020 tax returns.  The Coronavirus Response and Relief Supplemental Appropriations Act, 2021, enacted as Division M of the Consolidated Appropriations Act, 2021, Public Law 116-260, 134 Stat. 1182 (December 27, 2020) added section 6428A to the Code. This legislation created an "additional 2020 recovery rebate for individuals."  The IRS refers to the advance refund of this credit as a "Second Round EIP."  This legislation also altered for the "2020 recovery rebate credit" the requirements regarding the inclusion of valid SSN and changed the phase-out threshold for qualifying widows and widowers to be  $150,000.  These statutory changes did not affect the First Round EIPs, as reported in this table.
[2] AGI comes from the return used to generate the EIP.  Thus, AGI comes from the individual’s Tax Year 2019  return, or if a Tax Year 2019 return was not filed, the individual’s Tax Year 2018 return.
[3] Includes returns with negative or zero AGI.
[4] While the EIP phased out at a rate of 5% of the taxpayer's adjusted gross income in excess of $150,000 for taxpayers filing a joint return (reaching $0 at $198,000 with no qualifying children), in some cases, with the additional $500  payment for each qualifying child, an EIP was received by taxpayers with AGI greater than $200,000.
[5] For individuals who received an EIP and the eligibility was not based on a tax return from Tax Years 2018 and 2019, the  eligibility and amount of the EIP was determined by the presence of Form 1099 series documents indicating receipt of  Social Security benefits, Railroad Retirement benefits, compensation and pension benefit payments from the Veterans  Administration, or Supplemental Security Income (see Footnote 1) or based on the information submitted by the  individual through the “Non-filers: Enter Your Information Here” online portal.
NOTES:  Detail may not add to totals because of rounding.                  The numbers shown reflect First Round EIPs successfully issued to eligible recipients based on taxpayer account                  information whereas reports released for August and earlier periods did not account for reversed or undeliverable                  First Round EIPs.
SOURCE: IRS, RAAS, January 2021

File and source

File

20in01eip.xlsx

Size

27,617 bytes

SHA-256

0eb66b9c22a74227d8a3f8b66dad36e1366f233b6f8468da732ba9216fd2b46c

Our copy

20in01eip.xlsx

Original

www.irs.gov