Economic Impact Payments

FACT SHEET: ECONOMIC IMPACT PAYMENTS


Who is eligible for the economic impact payment?

Individuals with a gross income under $75,000 ($112,500 for head of household and $150,000 married) who are not the dependent of another taxpayer and have a work-eligible SSN, are eligible for the full $1,200 ($2,400 married) rebate. Additionally, folks are eligible for an additional $500 per child for dependents 16 years old and younger. A typical family of four is eligible for a $3,400 recovery rebate.

Rep. Craig is working to have this extended to 17 and 18-year-old children, student dependents up to age 24, and all disabled dependents with her bill,  the All Dependent Children Count Act. 


How will the IRS know where to send my payment?

The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.

For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.


If you need to update your bank account or mailing address

If the IRS does not have your direct deposit information from your 2018 or 2019 return – and you haven’t yet gotten your payment – use the Get My Payment application to let us know where to send your direct deposit.

  • 2019 Filers: The IRS will send your payment using the information you provided with your 2019 tax return. You will not be able to change it.
  • 2018 Filers: If you need to change your account information or mailing address, file your 2019 taxes electronically as soon as possible. That is the only way to let us know your new information.

Note: The IRS isn't currently able to process individual paper tax returns due to the COVID-19 outbreak.
 


Many individuals don't need to file a tax return. Are non-filers eligible for rebates?

Yes. There is no earned income requirement to be eligible for a rebate. Non-filers who are Social Security beneficiaries will be paid automatically by the IRS. (This is a change from the IRS’ previously announced position.) However, many other non-filers – potentially including those who receive Supplemental Security Income – may need to take additional steps to receive their rebates. This process is still evolving, and the IRS is posting specific guidance at www.irs.gov/coronavirus. The IRS will conduct a public awareness campaign to reach non-filers and provide them with information on how they can access rebates.

You can provide the necessary information to the IRS easily and quickly for no fee through Non-Filers: Enter Payment Info. We will use this information to determine your eligibility and payment amount and send you an Economic Impact Payment. After providing this information you won’t need to take any additional action.


How can I file the tax return needed to receive my economic impact payment?

You can find information on how to file your taxes here. Please remember the IRS is not able to process paper tax returns at this time. 


I have not filed my tax return for 2018 or 2019. Can I still receive an economic impact payment?

Yes. The IRS urges anyone with a tax filing obligation who has not yet filed a tax return for 2018 or 2019 to file as soon as they can to receive an economic impact payment. Taxpayers should include direct deposit banking information on the return.


I need to file a tax return. How long are the economic impact payments available?

For those concerned about visiting a tax professional or local community organization in person to get help with a tax return, these economic impact payments will be available throughout the rest of 2020.


If I owe money to the IRS, will I receive a stimulus check?

Yes. Stimulus check will not be offset unless there is a delinquent child support request.


Where can I get more information?

The IRS will post all key information on IRS.gov/coronavirus as soon as it becomes available.

The IRS has a reduced staff in many of its offices but remains committed to helping eligible individuals receive their payments expeditiously. Check for updated information at IRS.gov/coronavirus rather than calling IRS assistants who are helping process 2019 returns.


Information for Non-Filers:

You can provide the necessary information to the IRS easily and quickly for no fee through Non-Filers: Enter Payment Info. We will use this information to determine your eligibility and payment amount and send you an Economic Impact Payment. After providing this information you won’t need to take any additional action.