Problem 1-25 Economic Impact Payment and Recovery Rebate Credit (LO 1.7) Luke and Vanessa have been married since 2016 and have filed jointly each year since then. Their 2019 EIP was based on their 2019 tax return that was filed in early February 2020. In May 2020, they celebrated the adoption of a child. If their AGI was never greater than $120,000, what was their ETP and RRC in 20207 a. EIP 2,400 b. RRC Feedback Check My Work The economic impact payment (EIP) and recovery rebate credit (RRC) are designed to be integrated one-time actions in response to the economic impact of the COVID-19 pandemic. The EIP is a direct payment to certain taxpayers authorized by the CARES Act.