The IRS and Treasury have successfully delivered nearly 130 million Economic Impact Payments to Americans in less than a month, and more are on the way. Some Americans may have received a payment amount different than what they expected. Payment amounts vary based on income, filing status and family size.
The Treasury Department and the Internal Revenue Service released updated state-by-state figures for Economic Impact Payments, with approximately 130 million individuals receiving payments worth more than $200 billion in the program’s first four weeks.
“We are working hard to continue delivering these payments to Americans who need them,” said IRS Commissioner Chuck Rettig. “The vast majority of payments have been delivered in record time, and millions more are on the way every week. We encourage people to visit IRS.gov for the latest information, FAQs and updates on the payments.”
With a variety of steps underway to speed Economic Impact Payments, the Treasury Department and the Internal Revenue Service urged people to use Get My Payment by noon Wednesday, May 13, for a chance to get a quicker delivery.
The IRS, working in partnership with Treasury Department and the Bureau of Fiscal Services (BFS), continues to accelerate work to get Economic Impact Payments to even more people as soon as possible. Approximately 130 million individuals have already received payments worth more than $200 billion in the program’s first four weeks.
As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service today reminds taxpayers that IRS.gov includes answers to many common questions, including help to use two recently launched Economic Impact Payment tools. The IRS is regularly updating the Economic Impact Payment and the Get My Payment tool frequently asked questions pages on IRS.gov as more information becomes available.
The IRS has two tools to help millions of taxpayers with their Economic Impact Payment. The payments are $1,200 per eligible person and up to $500 for each qualifying child.
The first tool, Non-filers: Enter Payment Info Here is available – in English and Spanish – for certain taxpayers who don’t normally need to file a return. This free tool allows them to enter basic information so the IRS can issue their payment. The second tool, Get My Payment, allows people to check the status of their payment and provide bank account information if a payment has not been scheduled for delivery.
SSA, RRB Recipients with Eligible Children Need to Act by Wednesday to Quickly Add money to Their Automatic Economic Impact Payment; IRS Asks for Help in the ‘Plus $500 Push’ (IR-2020-76)
The Internal Revenue Service today issued a special alert for several groups of federal benefit recipients to act by this Wednesday, April 22, if they didn’t file a tax return in 2018 or 2019 and have dependents so they can quickly receive the full amount of their Economic Impact Payment.
The Internal Revenue Service, working in partnership with the Treasury Department and the Department of Veterans Affairs, announced today that recipients of VA benefits will automatically receive automatic Economic Impact Payments. Veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments from VA will receive a $1,200 Economic Impact Payment with no further action needed on their part. Timing on the payments is still being determined.
The Internal Revenue Service, working in partnership with the Treasury Department and the Social Security Administration, announced today that recipients of Supplemental Security Income (SSI) will automatically receive automatic Economic Impact Payments.
SSI recipients will receive a $1,200 Economic Impact Payment with no further action needed on their part. The IRS projects the payments for this group will go out no later than early May.
Working with the Treasury Department, the Internal Revenue Service today unveiled the new Get My Payment with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information.
With an initial round of more than 80 million Economic Impact Payments starting to hit bank accounts over the weekend and throughout this week, this new tool will help address key common questions. Get My Payment will show the projected date when a deposit has been scheduled, similar to the “Where’s My Refund tool” many taxpayers are already familiar with.
IRS.gov feature helps people who normally don’t file get payments; second tool next week provides taxpayers with payment delivery date and provide direct deposit information. To help millions of people, the Treasury Department and the Internal Revenue Service today launched a new web tool allowing quick registration for Economic Impact Payments for those who don’t normally file a tax return.
To help taxpayers, the Department of Treasury and the Internal Revenue Service announced today that Notice 2020-23 extends additional key tax deadlines for individuals and businesses. Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. No late-filing penalty, late-payment penalty or interest will be due.
WASHINGTON – The U.S. Department of the Treasury and the Internal Revenue Service today announced that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact Payment. Instead, payments will be automatically deposited into their bank accounts.
“Social Security recipients who are not typically required to file a tax return need to take no action, and will receive their payment directly to their bank account,” said Secretary Steven T. Mnuchin.
The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.
For additional information see IR 2020-61, Economic impact payments: What you need to know (Updated April 1, 2020).
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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.