Information - Economic Impact Payments

Jen


Economic Impact Payments

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) legislation includes the Economic Impact Payments distributed by the Internal Revenue Service.

Check My Payment Status

PAYMENT DISTRIBUTION

The distribution of economic impact payments will begin mid to late April 2020. This includes taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees. Visit the Coronavirus Tax Relief and Economic Impact Payments page on IRS.gov for more details about who is eligible and answers to frequently asked questions.

 For most taxpayers, payments are automatic, and no further action is needed.

WHO IS ELIGIBLE

Visit the IRS Economic Impact Payment Information Center for more details on eligibility.

Eligible taxpayers may qualify for up to $1,200 each, or up to $2,400 if married filing jointly, and up to $500 for each eligible child.

An eligible child is determined as one who was claimed as a dependent on the last filed tax return, tax year 2019 or tax year 2018, and who will not reach age 17 by Dec. 31, 2020. This is the same criteria used to determine eligibility for the Child Tax Credit.

The gross amount of the payment is reduced by $5 for each $100 earned above $75,000 for single filers, $112,500 for head of household filers and $150,000 for married filing joint filers. Tax filers whose adjusted gross income exceeds certain threshold amounts are not eligible. The IRS “Get My Payment” application, coming in mid-April, will help you check your payment status, confirm your payment type, and update your bank info.

NON FILERS

If you’re a U.S. citizen with income less than $12,000 ($24,000 for married couples) and aren't generally required to file a tax return with the IRS, you can use the Economic Impact Payments registration tool to provide the IRS with your information needed to determine your eligibility and payment amount.

ADDRESS CHANGES

If your mailing address has changed since you’ve last filed, get guidance on how to notify the IRS.

WHO IS NOT ELIGIBLE

Tax filers whose adjusted gross income exceeds certain threshold amounts are not eligible.

Who Is Not Eligible

FILING STATUS ADJUSTED GROSS INCOME
 Single or married filing separate
(with no qualifying child)
 $99,000+
 Head of Household  $136,500+
 Married filing joint
(with no qualifying child)
 $198,000+


Visit the IRS Economic Impact Payment Information Center for more details on eligibility.

FILING A TAX RETURN

Taxpayers who receive Social Security retirement or Railroad Retirement benefits, who are not typically required to file tax returns, will not need to file to receive a payment. Some taxpayers who typically do not file returns will need to submit a simple tax return to receive the economic impact payment. More information will be issued, when the form and instructions are available.

Banner Bg