See below Frequently Asked Questions about the Coronavirus Relief Payments as well as additional resources.
Frequently Asked Questions
Q: What is an Economic Impact Payment?
A: Economic Impact Payments, were created with the recent passage of the CARES Act. An Economic Impact Payment is a cash payment made directly to Americans from the U.S. Treasury Department to help alleviate the impact of the coronavirus (COVID-19) outbreak.
Q: Who is eligible for the economic impact payment?
A: Individual tax filers with an adjusted gross income up to $75,000 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 income thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible to receive these payments. 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 under the age of 17.
Q: How will the IRS know where to send my payment?
A: 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.
Q: The IRS does not have my direct deposit information. What can I do?
A: In the coming weeks, the U.S. Department of 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.
Q: I am not typically required to file a tax return. Can I still receive my payment?
A: Yes. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return do not need to do so. The government will use the direct deposit or check information they have on file to process your payment. No one who receives this payment, regardless of filing status, will owe tax on the payment next year. For more information you can visit www.irs.gov/coronavirus/economic-impact-payments.
Q: I have not filed my tax return for 2018 or 2019. Can I still receive an economic impact payment?
A: 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.
Q: I need to file a tax return. How long are the economic impact payments available?
A: 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.
Q: Where can I get more information?
A: The IRS will post all key information on IRS.gov/coronavirus as soon as it 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.
Q: Are these payments taxable by the federal government?
A: No. These payments are tax free and will not impact your taxable income for 2020.
Click HERE for a downloadable and printable FAQ.
- For information regarding Social Security recipients receiving payments, click here.
- To calculate your payment amount, click here.
- If are not required to fill out a tax return, you could still be eligible to receive a direct relief payment. Click here to determine eligibility and give the government the information they need to process your payment.
- To check the status of your payment, click here.
- If you put your banking information into the Get My Payment Web Portal, but it is not giving you payment information, the IRS advises if you have successfully entered your bank information “any day before noon on Tuesday (April 28th), your payment date will be available beginning the following Saturday (May 2nd).” If you miss the Tuesday deadline, you have to wait another week to get a payment date.
- The deadline for eligible veterans to claim their dependents and submit their Non-Filer form is May 5th. Do you know which group you fall into and if you need to file? More info below.