Your Not-So-Ordinary Stimulus Check Questions Answered (1)

The third round of Economic Impact Payments (EIPs, or stimulus checks) has been making news this week, already hitting bank accounts. You probably know the basics:

• Checks are $1,400 per person ($2,800 for married taxpayers), plus $1,400 per eligible dependent.
• You must have a valid Social Security number (SSN) or Adoption Taxpayer Identification Number (ATIN).
• Checks are subject to phase-outs beginning at $75,000 for individuals, $112,500 for heads of household, and $150,000 for married taxpayers. Phase-outs mean that the benefit goes down as income goes up: Payments reach zero at $80,000 for individuals, $120,000 for heads of household, ...