Check IRS.gov for the latest information:
No action needed by most people at this time
IR-2020-61, March 30, 2020
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.
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.
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.
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.
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.
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.
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.
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?
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.
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.
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.
I need to file a tax return. How long are the economic impact
payments available?
For those concerned about visiting a tax professional or local community
organization in person to get help with a tax return, these economic impact
payments will be available throughout the rest of 2020.
organization in person to get help with a tax return, these economic impact
payments will be available throughout the rest of 2020.
Where can I get more information?
The IRS will post all key information on IRS.gov/coronavirus as soon as it
becomes available.
becomes available.
The IRS has a reduced staff in many of its offices but remains committed to
helping eligible individuals receive their payments expeditiously. Check for updated
information on IRS.gov/coronavirus rather than calling IRS assistors who are
helping process 2019 returns.
helping eligible individuals receive their payments expeditiously. Check for updated
information on IRS.gov/coronavirus rather than calling IRS assistors who are
helping process 2019 returns.
