The Internal Revenue Service (IRS) and Treasury have announced that they have delivered nearly 130 million Economic Impact Payments (EIPs, or stimulus checks) to Americans. More are on the way. I know – and you know – that some Americans may have received a payment amount different than what they expected. The IRS has some explanations for…
Still waiting on your stimulus check? The Treasury Department and the Internal Revenue Service (IRS) says that you need to access the Get My Payment tool by noon Wednesday, May 13, to get your check faster. Approximately 130 million individuals have already received payments worth more than $200 billion in the program’s first four weeks. The IRS…
The Internal Revenue Service (IRS) has issued some guidance about how to return an Economic Impact Payment (EIP) or stimulus check. That is, assuming that you want to. To be clear, the payment is NOT taxable. It will NOT negatively affect your 2020 tax return (it won’t decrease your refund or increase how much you…
Hear that? It’s the sounds of the Internal Revenue Service (IRS) trying to retroactively impose rules on stimulus checks being paid out under the CARES Act. The latest target? Incarcerated persons. On May 6, 2020, the IRS posted the following FAQ on its website: Q12. Does someone who is incarcerated qualify for the Payment? (added…
(Updated May 21, 2020) Shortly after stimulus checks started going out, I began receiving inquiries from taxpayers who had received checks intended for deceased relatives. Some media outlets – and politicians – wanted to make a big deal out of this, suggesting that it was indicative of something wrong at the Internal Revenue Service (IRS)….
Folks who receive Supplemental Security Income (SSI) and Veterans Affairs (VA) disability compensation and pension benefits are entitled to a stimulus check. If you receive SSI and VA benefits but do not file a tax return, you can get your $1,200 payment without taking an extra step. If, however, you receive SSI or VA benefits…
Over the last couple of weeks, taxpayers have been routinely frustrated with the Internal Revenue Service (IRS) portal for Economic Impact Payments (EIPs), or stimulus checks. Now, the IRS has announced significant enhancements to the Get My Payment tool. The enhancements, which started last week and continued through the weekend, adjusted several items related to the online tool, which…
The Taxpayer Advocate Service (TAS) has announced a new tool to assist taxpayers with claiming their Economic Impact Payment (EIP), sometimes referred to as a stimulus check. This new tool is for people who know they qualify and want to know what steps, if any, need to be taken to receive the payment. You can try out the…
It has long been the case that if you owe money, your federal income tax refund can be seized to satisfy your debt. Examples of federal debts that might trigger offsets include federal income tax delinquencies and student loan defaults. States can ask the Internal Revenue Service (IRS) to intercept, or offset, federal tax refunds…
(Updated: April 22, 2020) Your questions about stimulus checks keep coming! Last month, I wrote a primer on stimulus checks to answer some of your basic questions – and I’ve been updating it. I’m still fielding questions about ITINs, children, child support, direct deposit, and more. Here’s what you’ve been asking – along with my answers –…