IRS Website for Economic Impact FAQ
The IRS has established a special section on their website in order to answer the most common questions individuals may have regarding the Economic Impact Payments being sent out.
Who is eligible for the economic impact payment?
Most people with an income of $75,000 if single or $150,000 if married filing jointly will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds.
I don’t file a tax return. Will I still get a payment?
Yes. People who don’t typically need to file a tax return will file a “simple” tax return. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return fall into this category. The IRS will soon provide information for these groups as to how to provide this information.
- Update from the Treasury (04/02/20): “Social Security recipients who are not typically required to file a tax return do not need to take an action, and will receive their payment directly to their bank account,” said Secretary Steven T. Mnuchin.
When will I receive my payment?
Distribution of payments will begin within the next three weeks.
For more information go HERE
Be sure to check back frequently HERE as the IRS updates the website
Exciting News: We are now on Telegram and BAND
Never miss a deal! Get all the newest deals sent via Text
Get a copy of the book How to Shop for Free
Sign up for our Email List so you never miss a deal
Never miss a freebie again! Join our “Free Free Free” Facebook Group today!
..and you can find freebies in our “Free Samples and Freebies” forum as well 😉
You’re never far from a freebie here at How to Shop for FREE®
Looking for a place to order coupons in bulk? Check out Daily Dimes for all your clipping service needs!