The American Rescue Plan Act of 2021 was signed into law by President Biden on March 11, 2021. For details on what this means for you, visit our Third Stimulus Payment Frequently Asked Questions page.

The American Rescue Plan includes the following tax provisions:

• Individuals earning $75,000 or less AGI per year will receive $1,400
• Married couples filing jointly earning $150,000 or less AGI per year will receive $2,800
• Head of household filers earning $112,500 or less AGI will receive $1,400
• Each dependent claimed will be an additional $1,400
• Federal unemployment benefits of $300 a week have been extended through Sept. 6, 2021
• Unemployment benefits will be tax-free on the first $10,200 received in 2020 for taxpayers making less than $150,000 per year
  • The TaxAct Federal Editions have been updated to allow this exclusion.
  • For a list of state rules, see American Rescue Plan - Unemployment Exclusion.

Related Links

• IRS offers overview of tax provisions in American Rescue Plan
• American Rescue Plan - Unemployment Exclusion
• TaxAct Stimulus Center