[NFB-Idaho] FW: Important information from the IRS about the Stimulus Checks

[sandy streeter]

Here is some important information which may answer some questions for you.
Susan Bradley copied and pasted this from a press release she received. 

 

Sandy Streeter, 1st Vice-President

NFB of Idaho 

Streeter.sandy at gmail.com <mailto:Streeter.sandy at gmail.com> 

208-643-0764 

 

From: Susan Bradley <craftisue at hotmail.com> 
Sent: Wednesday, April 1, 2020 11:35 AM
To: Sandy Streeter <streeter.sandy at gmail.com>
Subject: Fw: Important information from the IRS about the Stimulus Checks

 

 

 

  _____  

From: Susan Bradley
Sent: Wednesday, April 1, 2020 5:14 PM
To: Mary Ellen Halverson <raynme68 at gmail.com <mailto:raynme68 at gmail.com> >
Subject: Important information from the IRS about the Stimulus Checks 

 

Mary Ellen, please forward this information to our Chapter list from an IRS
Press Release I received yesterday at work about the Stimulus Checks. 

 

WASHINGTON - The Treasury Department and the Internal Revenue Service today
announced that distribution of economic impact payments will begin in the
next three weeks and will be distributed automatically, with no action
required for most people. However, some seniors and others who typically do
not file returns will need to submit a simple tax return to receive the
stimulus payment.

 

Who is eligible for the economic impact payment?

Tax filers with adjusted gross income up to $75,000 for individuals and up
to $150,000 for married couples filing joint returns will receive the full
payment. For filers with income above those amounts, the payment amount is
reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single
filers with income exceeding $99,000 and $198,000 for joint filers with no
children are not eligible.

 

Eligible taxpayers who filed tax returns for either 2019 or 2018 will
automatically receive an economic impact payment of up to $1,200 for
individuals or $2,400 for married couples. Parents also receive $500 for
each qualifying child.

 

How will the IRS know where to send my payment?

The vast majority of people do not need to take any action. The IRS will
calculate and automatically send the economic impact payment to those
eligible.

 

For people who have already filed their 2019 tax returns, the IRS will use
this information to calculate the payment amount. For those who have not yet
filed their return for 2019, the IRS will use information from their 2018
tax filing to calculate the payment. The economic impact payment will be
deposited directly into the same banking account reflected on the return
filed.

 

The IRS does not have my direct deposit information. What can I do?

In the coming weeks, Treasury plans to develop a web-based portal for
individuals to provide their banking information to the IRS online, so that
individuals can receive payments immediately as opposed to checks in the
mail.

 

I am not typically required to file a tax return. Can I still receive my
payment?

Yes. People who typically do not file a tax return will need to file a
simple tax return to receive an economic impact payment. Low-income
taxpayers, senior citizens, Social Security recipients, some veterans and
individuals with disabilities who are otherwise not required to file a tax
return will not owe tax.

How can I file the tax return needed to receive my economic impact payment?

 <https://www.irs.gov/coronavirus> IRS.gov/coronavirus will soon provide
information instructing people in these groups on how to file a 2019 tax
return with simple, but necessary, information including their filing
status, number of dependents and direct deposit bank account information.

 

I have not filed my tax return for 2018 or 2019. Can I still receive an
economic impact payment?

Yes. The IRS urges anyone with a tax filing obligation who has not yet filed
a tax return for 2018 or 2019 to file as soon as they can to receive an
economic impact payment. Taxpayers should include direct deposit banking
information on the return.