Treasury says that most people who qualify and have provided the information for direct deposit will receive their payment by April 15th. This article provides assistance in checking the status of the payment if it hasn’t yet arrived.
IRS is launching a new online tool for people to track their $1,200 tax stimulus payments
The tax agency has also extended more filing deadlines as the coronavirus outbreak continues to affect the 2020 tax season.
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The Post’s Jeff Stein explained March 18 why the White House and Congress are moving swiftly on economic stimulus amid the coronavirus outbreak. (Monica Akhtar/The Washington Post) By Michelle Singletary ColumnistApril 10, 2020 at 5:05 p.m. EDT
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The 2020 tax season has been upended by the novel coronavirus, forcing the IRS to extend more filing deadlines for individuals and businesses. The agency has also launched an online tool to help non-filers get their tax stimulus payment sooner. Another Web-based tool is scheduled to debut next week that will allow people to track how soon they’ll receive their stimulus money.
As part of the $2 trillion stimulus package, eligible taxpayers who filed tax returns for either 2019 or 2018 will get refund rebates of up to $1,200 for individuals or $2,400 for married couples. Those who qualify for a stimulus payment get an extra $500 for each qualifying child under 17. The economic impact payments will either be delivered via direct deposit or mailed. Payments will be distributed automatically to most people starting next week, the IRS said.
There has been a lot of concern that many people who aren’t required to file a tax return will have to wait for their payments. The covid-19 pandemic and associated stay-at-home orders have made it difficult for people to meet with tax professionals to help them prepare their returns. For example, AARP Foundation suspended its free Tax-Aide service until further notice out of concern of spreading the coronavirus. Nearly 60 percent of all taxpayers turn to a tax practitioner to prepare and file their returns, according to the American Institute of Certified Public Accountants (AICPA).AD
To get their stimulus payments, non-filers have to file a tax return. But now they can use the new online tool, developed with the IRS-backed Free File Alliance, to answer a few basic questions to get their money. The tool is based on the Free File Fillable forms available on the IRS website.
To get to the portal, go to IRS.gov and look for “Non-Filers: Enter Payment Info Here.” The link will take people to a page where they have to provide such information such as their Social Security number, address, and dependents. Non-filers can also provide direct deposit information, which will reduce the time it takes to receive their money.
The new feature is targeted to people who typically don’t have to file a federal return, which may include filers earning under $12,200 and married couples earning less than $24,400 last year.AD
Individuals who receive Social Security retirement, survivors or disability benefits or Railroad Retirement benefits will automatically receive the $1,200 stimulus payment if eligible. However, if you fall into one of those categories and have qualifying children under 17, use the non-filer tool to claim the $500 payment per child. You’ll need a valid Social Security number or Adoption Taxpayer Identification Number for each dependent.
By April 17, the agency plans to launch “Get My Payment,” which will provide people with a status of their payment, how it will be sent — direct deposit or mailed check — and the date the money will be mailed or scheduled to be deposited into their bank account. The tool will be much like the current “Where’s My Refund,” which allows taxpayers to track their federal refund.
An additional feature on “Get My Payment” will allow taxpayers to provide their bank account information so they can receive their payment faster than a paper check. If a payment has already been scheduled, you can’t use this feature, the IRS said.