Get Your Money: Ensure You Receive a Stimulus PaymentMay 7, 2020The IRS has two websites to help with stimulus payments: One for non-tax filers to register to receive their economic impact payment and a new “Get My Payment” tool. Background As a response to the COVID-19 pandemic, the government is sending $1,200 to single taxpayers with income less than $75,000 ($98,000 with phaseouts). $2,400 is being sent to married taxpayers with income less than $150,000 ($198,000 with phaseouts). An additional $500 is being sent for each child under the age of 17. The Problem The payments are being made based on 2019 or 2018 tax returns. If you do not need to file a tax return for either of these years, you run the risk of not receiving this payment. The Solution The IRS launched a way to register to receive your payment and to determine the status of your payment. Here are the websites:
Who should use the app for non-filers If you fall into one of the following cases, you need to review whether it makes sense to use the app mentioned above for non-filers:
Who should NOT use the app for non-filers DO NOT use the app for non-filers if you will be filing a 2019 return. If you are required to file a return, using this tool will not speed up your stimulus payment and will likely slow down processing of your tax return and receiving any refund. |
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