COVID-19 – IRS Economic Impact Payments
What YOU Need to Know to Get Your Payment
The IRS is in the process of sending out Economic Impact Payments (stimulus money) to most people in the country. Individuals who are and who are not eligible are as follows:
- US citizens & resident aliens who paid taxes in 2019 and earned less than $75,000 per year will receive a $1,200 payment
- Couples (married filing jointly) earning less than $150,000 will receive $2,400
- Parents will receive an additional $500 for each child under age 17
- Children 17 and older, elderly and adults with disabilities, who are claimed as a dependent by another will NOT be eligible for a stimulus payment
If you already filed your 2019 taxes or receive Social Security, SSI Disability or Railroad Retirement benefits and have no dependents, you are all set and don’t need to do anything else to receive your payment.
If NOT, in order to receive your payment, you must either file your taxes or if you have no filing requirement, fill out a simple form on the IRS website. For more information and to fill out the Non-Filers form, click HERE.
File your taxes for FREE. To get started, click HERE.