The Treasury Department and the IRS on Friday announced the creation of a new online form for people who did not file a tax return in 2018 or 2019 to submit the information needed to receive the $1,200 recovery payment that was included in the recently enacted CARES Act.
The portal “is a tool for Americans who are not required to file tax returns to make sure they receive their payment as quickly and safely as possible,” Treasury Secretary Steven Mnuchin said. “Our teams at Treasury and the IRS are working around the clock to ensure American workers and families receive their Economic Impact Payments.”
The CARES Act provides all U.S. residents with incomes below $75,000 ($150,000 for married couples) a $1,200 payment ($2,400 for couples) as long as they have a work-eligible Social Security number and are not a dependent on another’s tax return. An added $500 is available for each child under the age of 17.
Originally, a person had to file a tax return to get the recovery payment, but on April 1, the IRS reversed course and no longer requires the filing of a tax return to receive the recovery payment.
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The Treasury announcement notes that “Social Security recipients who did not file a tax return in 2018 or 2019 do not need to use this form or take any action, and will have their payment made in the same manner that they receive their social security payments.”
Later this month, the IRS will launch a separate online application, “Get My Payment,” which allows taxpayers who filed their tax return in 2018 or 2019 but did not provide their banking information on their return to submit direct deposit information so that they can receive payments immediately, as opposed to through checks in the mail. “Get My Payment” will also allow taxpayers to track the status of their payment.
