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Additional Financial Support for Families in 2021

This act introduces additional tax credits in the form of one-time payments for eligible individuals and families in 2021. The goal is to provide financial support due to the pandemic, helping citizens cover current expenses and stabilize household budgets.
Key points
Most individuals will receive $1,400, and couples filing jointly will receive $2,800.
An additional $1,400 will be paid for each qualifying dependent (e.g., child).
The amount of support may be reduced for higher-income earners (above $75,000 for singles, $112,500 for heads of household, $150,000 for couples).
Payments will be processed quickly, often as a tax refund, and will not be subject to offset for public debts.
A valid identification number (e.g., Social Security number) is required for the taxpayer and dependents to receive the full amount.
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Additional Information
Coronavirus Assistance for American Families Act
Print number: HR 795
Sponsor: Rep. Blunt Rochester, Lisa [D-DE-At Large]
Process start date: 2021-02-04