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The IRS has launched a new on-line tool that will offer those taxpayers who don’t normally file federal tax returns “quick registration” for the Economic Impact Payments. The tool provides a free and easy option for those who didn’t file or aren’t required to file a federal return and don’t receive Social Security retirement, disability benefits, or Railroad Retirement benefits.
The IRS has indicated that Economic Impact Payments will be sent automatically to “most people.” They have also pointed out that eligible taxpayers who filed their 2018 or 2019 returns and chose direct deposit of their refunds will automatically receive an Economic Impact Payment of up to $1,200 for individuals, or $2,400 for married couples, and $500 for each qualifying child. Also, automatic payments will soon go to those persons receiving Social Security retirement or disability benefits and Railroad Retirement benefits.
Non-filers who receive Social Security and Railroad Retirement recipients with qualifying dependents under age 17 may also use the online tool to claim the $500 payment per child. However, the IRS notes that students or others who are claimed as dependents on someone else’s return won’t be eligible for an Economic Impact Payment or to use this tool.
To use the online tool, navigate to https://www.irs.gov/coro…/non-filers-enter-payment-info-here and provide some basic information including banking information for direct deposit. This information will be used to confirm payment eligibility and make calculations.
To check on the status of your Economic Impact Payment, go to https://www.irs.gov/coronavirus/get-my-payment
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