Taxpayers who want to file a 2019 tax return later cannot use this approach. The IRS informed on June 25 that individuals who registered for an Economic Impact Payment through the non-filers service cannot thereafter file a tax return electronically. They need to fill out the Tax Year 2019 Form(s) 1040/1040-SR on paper, print “Amended EIP Return” at the top, and mail the return to the IRS. To prevent late filing fines and late fees, the tax return must be mailed by the postponed due date of July 15, 2020. The Economic Impact Payment Center page on IRS.gov will soon have information about duplicate returns for EIP, so please check there.
Tax experts should be aware of a web service that enables speedy registration for Economic Impact Payments. The tool was introduced by the IRS and the U.S. Treasury Department for people who don’t typically submit tax returns.
According to IRS Commissioner Chuck Rettig, individuals who do not have a return filing requirement can use this application to provide us with simple information so they can quickly receive their Economic Impact Payments. “This new tool to assist people has been in development by the IRS and Free File Alliance around-the-clock.”
The IRS informs taxpayers that starting the week of April 13, 2020, most recipients of Economic Impact Payments will receive them automatically. Taxpayers who met the requirements and submitted tax forms for either 2019 or 2018 will automatically be paid. In the near future, persons receiving Railroad Retirement benefits as well as Social Security retirement or disability benefits will soon begin getting automatic payments.
What Are the Non-Filers: Enter Payment Info Tool Used For?
The process is simple and just needs a few minutes to finish for people who don’t typically file tax returns. Look for “Non-Filers: Enter Payment Info Here” on IRS.gov first. Give your name, Social Security number, address, and any dependents after that. This data will be used by the IRS to determine eligibility, compute, and deliver an Economic Impact Payment. No taxes will be due if you use the facility to request a payment.
The IRS can deposit the payment straight into the recipient’s account by entering the recipient’s bank or financial account information. Otherwise, a check will be mailed to you. The payment registration deadline is October 15, 2020. The information entered will be secure because “Non-Filers: Enter Payment Info” is secure. The application is based on Free File Fillable Forms, a free product available on IRS.gov from the Free File Alliance.
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Who Should Utilise the Tool for Non-Filers?
This new tool is intended for taxpayers who did not file a tax return for the years 2018 or 2019 and who do not receive Railroad Retirement, Social Security retirement, or disability benefits. SSI beneficiaries who don’t submit tax returns will likewise automatically receive stimulus payments without having to take any extra action. Additionally, VA will make an Economic Impact Payment to veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments without requiring further action from them.
Those Who Ought to Think About Using the Non-Filers Tool as An Alternative Include:
Lower income: People who haven’t filed a 2018 or 2019 return because their income is below the typical threshold for filing a tax return are among those who could use the Non-Filers: Enter Payment Info service. Both married couples and single filers who earned less than $12,200 and $24,400 in 2019 may fall under this category.
Beneficiaries of the Veterans Tax Credit: The IRS is still looking at options to determine if Economic Impact Payments can be automatically provided to veterans who did not file a tax return for the 2018 or 2019 tax years. As the IRS continues to examine automatic payment methods to streamline delivery for these organizations, individuals in these groups have the option of using the Non-Filers: Enter Payment Info option right now or waiting.
Beneficiaries of Social Security, SSDI, SSI, Railroad Retirement, and Veterans Affairs with admissible dependents will all be given automatic $1,200 Economic Impact Payments. Non-Filers: This category includes people who have eligible children under the age of 17. To get the $500 per child payment, enter your payment information. Act by May 5 if you are a veteran or SSI recipient with a child who qualifies.
Students and others: They will not be qualified for the Economic Impact Payment or to use the Non-Filer tool if someone else claimed them on their tax return.
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Editor’s note: The IRS will continue to provide updates on these and other issues at IRS.gov/coronavirus. The Coronavirus Aid, Relief, and Economic Security (CARES) Act and related laws will still be covered by the Intuit® Tax Pro Center. Visit the COVID-19 Resource Center for Accountants and Tax Professionals to find further Intuit resources.
The IRS announced on April 16, 2020, that beneficiaries of SSI will automatically receive Economic Impact Payments. On April 17, 2020, the IRS announced that beneficiaries of Veterans will automatically receive these payments. On April 27, 2020, the IRS announced the deadline for VA, SSI recipients with eligible children. On June 25, the IRS announced Business Rule R0000-932-02. This article was first published on April 10, 2020. It was updated on April 16, 2020, to reflect those announcements.