This week I have decided to provide you an update on the Economic Impact Payments due to the number of phone calls I have received with questions about the status of these payments.
As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service informed us today that the website IRS.gov is including answers to many common questions, including help to use two recently launched Economic Impact Payment tools.
The IRS is regularly updating the Economic Impact Payment and the Get My Payment tool frequently asked questions pages on IRS.gov as more information becomes available. Get My Payment shows the projected date when a deposit has been scheduled. Information is updated once daily, usually overnight, so people only need to enter information once a day. Those who did not use direct deposit on their 2018 or 2019 tax return can use the tool to input information to receive the payment by direct deposit into their bank account so that they can get their money faster.
The Non-Filers Enter Payment Info tool is helping millions of taxpayers successfully submit basic information to receive Economic Impact Payments quickly to their bank accounts. This tool is designed only for people who are not required to submit a tax return. It is available in English through Free File Fillable Forms and in Spanish through ezTaxReturn.
Frequently asked questions continually updated on IRS.gov
Taxpayers should check the FAQs often for the latest additions; many common questions are answered on IRS.gov already, and more are being developed.
This is the question I got the most this week.
Why am I receiving an error message when entering my personal information or tax information?
To ensure the information is entered correctly, please use the helpful tips provided when entering the information requested to verify your identity. If the information you enter does not match our records, you will receive an error message. Check the information requested to ensure you entered it accurately.
You may want to check your most recent tax return or consider if there is a different way to enter your street address (for example, 123 N Main St vs 123 North Main St). You may also verify how your address is formatted with the US Postal Service (USPS) by entering your address in the USPS ZIP Lookup tool, and then enter your address into Get My Payment exactly as it appears on file with USPS.
If you receive an error when entering your Adjusted Gross Income (AGI), refund amount, or the amount you owed, make sure you are entering the numbers exactly as they appear on your Form 1040 or tax transcript. If the numbers from your 2019 tax return are not accepted, try the numbers from your 2018 tax return instead.
If the information you enter does not match our records three times within 24 hours, you will be locked out of Get My Payment for 24 hours for security reasons. You will be able to access the application again after 24 hours. There is no need to contact the IRS.
I think the amount of my Economic Impact Payment is incorrect. What can I do?
If you did not receive the full amount to which you believe you are entitled, you will be able to claim the additional amount when you file your 2020 tax return. This is particularly important for individuals who may be entitled to the additional $500 per qualifying child dependent payments.
For VA and SSI recipients who don’t have a filing requirement and have a child, they need to use the Non-Filers tool on IRS.gov by May 5 in order to have the $500 added automatically to their $1,200 Economic Impact payment. We encourage people to review our “How do I calculate my EIP Payment” question and answer.
Quick links to the Frequently Asked Questions on IRS.gov:
Economic Impact Payments: www.irs.gov/eipfaq
Get My Payment tool: www.irs.gov/getmypaymentfaq
No action needed by most taxpayers
Eligible taxpayers who filed tax returns for 2019 or 2018 will receive the payments automatically. Starting this week, automatic payments are going to those receiving Social Security retirement, or disability (SSDI), and Railroad Retirement benefits, and recipients of SSI and Veterans Affairs or survivor benefits should receive their payments by
mid-May.
Watch out for scams related to Economic Impact Payments
The IRS urges taxpayers to be on the lookout for scams related to the Economic Impact Payments. To use the new app or get information, taxpayers should visit IRS.gov. People should watch out for scams using email, phone calls, or texts related to the payments. Be careful and cautious: The IRS will not send unsolicited electronic communications asking people to open attachments, visit a website, or share personal or financial information. Remember, go directly and solely to IRS.gov for official information.
If you are having problems getting this payment status, please call my office.
We are here for you.
Julio & Staff Members.
Jiron & Company, CPA, PA
Written by: Julio Jiron, CPA
