- The IRS just launched an online tool that allows non-filers to submit their banking information to get a coronavirus stimulus check.
- The stimulus payments already began to arrive this week via direct deposit for qualifying Americans whose banking data is already in IRS’s database.
- Everyone else will receive the checks via regular mail, which will take longer to process.
Working for home during the novel coronavirus pandemic is a luxury that millions of Americans don’t have. Strict social distancing measures aren’t going to be lifted anytime soon, and life won’t just return to normal once this first COVID-19 wave is defeated. Millions of people will still be unemployed for some time to come. The government already passed a massive $2.2 trillion stimulus package meant to provide assistance during the health crisis to all Americans who qualify, regardless of employment status. The bill’s primary purpose is to provide money to tens of millions of people during this time, with the first stimulus checks having already been dispersed. The check size depends on income, starting at $1,200 for individuals who earned up to $75,000 in adjusted gross income. The higher your income, the lower the check amount will be, and you won’t qualify if your income exceeds $99,000 for individuals or about twice that for families.
The problem with the stimulus checks is that some of them might take weeks to arrive via regular mail if the government doesn’t already have your banking information on file. However, the IRS just launched an online service to speed up your coronavirus stimulus check.
The IRS tool targets non-filers, those people who didn’t have to file tax returns in 2018 or 2019.
People who filed their federal income taxes for 2018 or 2019; individuals who receive Social Security retirement, disability, or survivor benefits; and those who get Railroad Retirement benefits won’t need to use the service. The IRS has banking information for all these categories and the stimulus check will be wired automatically.
US citizens or permanent residents who had gross income that did not exceed $12,200 for 2019 and who aren’t required to file a federal tax return have to use the portal if they want to receive the stimulus check via bank transfer.
The IRS listed all the information you’ll have to provide:
- Full name, current mailing address and an email address
- Date of birth and valid Social Security number
- Bank account number, type and routing number, if you have one
- Identity Protection Personal Identification Number (IP PIN) you received from the IRS earlier this year, if you have one
- Driver’s license or state-issued ID, if you have one
- For each qualifying child: name, Social Security number or Adoption Taxpayer Identification Number and their relationship to you or your spouse
The form is available at this link, and this is how it will appear in your browser: https://www.freefilefillableforms.com/#/fd/EconomicImpactPayment. It’s important not to fall for any scams that might be targeting people during this period. Here’s what that portal looks like:
After following the steps and submitting the application, you’ll receive an email from Customer Service at Free File Fillable Forms that confirms the procedure. It’ll also inform you of any problems and provide solutions to fix them.
Free File Fillable Forms will use the information to automatically complete a Form 1040 and transmit it to the IRS, which will then process your payment.
The IRS doesn’t say when the stimulus payments will go out, but they’re supposed to start soon if they haven’t begun going out already. If you’re unsure of how much money you’ll eligible for, we have a handy chart for you.