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Economic Impact Payment

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IRS Sending Special Payments To 1M Americans: Here's What To Know IRS Sending Special Payments To 1M Americans: Here's What To Know
IRS Sending Special Payments To 1M Americans: Here's What To Know The Internal Revenue Service (IRS) announced it will issue automatic payments this month to nearly one million taxpayers who didn’t claim the Recovery Rebate Credit on their 2021 tax returns.  These payments aim to assist eligible individuals who missed claiming the credit, which provides up to $1,400 per person for those who didn’t receive the full amount of their Economic Impact Payments (EIPs). Who Will Receive Payments? Eligible taxpayers include those who filed a 2021 tax return but either left the Recovery Rebate Credit field blank or entered $0 despite qualifying. Payments wil…

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by Joe Lombardi
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Here Are Four Ways To Avoid Stimulus Check Scams Here Are Four Ways To Avoid Stimulus Check Scams
Here Are Four Ways To Avoid Stimulus Check Scams Consumer protection and law enforcement agencies are warning people to be wary of scams associated with stimulus checks. To avoid scammers, the Department of Consumer Protection is circulating tips on how to identify, stop, and/or report fraudsters going after stimulus checks. The second round of stimulus checks to help Americans deal with an economy hampered by COVID-19 began arriving in people’s mailboxes and direct-deposit accounts in late December. Single people will get $600, a married couple will get $1,200, and there will be an additional $600 per child to families. Everyone who qual…

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by Kristin Palpini
News
COVID-19: Some Could Now Start Getting Stimulus Checks By Direct Deposit COVID-19: Some Could Now Start Getting Stimulus Checks By Direct Deposit
Covid-19: Some Could Now Start Getting Stimulus Checks By Direct Deposit Relief is coming for millions of Americans coping with the novel coronavirus (COVID-19) pandemic as the federal government begins making payments. The House Ways and Means Committee said the IRS will make approximately 60 million payments to Americans through direct deposit in mid-April, with some expected as soon as Thursday, April 9. Those without direct deposit information on file at the IRS may not receive their checks until the summer or fall. U.S. residents will receive the Economic Impact Payment of $1,200 for individual or head of household filers, and $2,400 for married filing jo…

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by Zak Failla
News
COVID-19: Social Security Recipients Will Automatically Receive Economic Impact Payments COVID-19: Social Security Recipients Will Automatically Receive Economic Impact Payments
Covid-19: Social Security Recipients Will Automatically Receive Economic Impact Payments Seniors and others who receive Social Security will automatically receive an economic impact payment associated with the novel coronavirus (COVID-19) pandemic. The U.S. Department of the Treasury and the IRS announced on Wednesday, April 1, that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive the benefit, payments will be automatically deposited into their bank accounts. “Social Security recipients who are not typically required to file a tax return do not need to take any action, and will receive t…

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by Kathy Reakes
Lifestyle
COVID-19: Here's What You Need To Know About Amount, Timing Of Federal Stimulus Checks COVID-19: Here's What You Need To Know About Amount, Timing Of Federal Stimulus Checks
Covid-19: Here's What You Need To Know About Amount, Timing Of Federal Stimulus Checks The Treasury Department and the Internal Revenue Service announced Tuesday, March 30, that economic impact payments will begin in the next three weeks and will be sent automatically, with no action required for most people.  However, some seniors and others who typically do not file returns will need to submit a simple tax return to receive the payment. Who is eligible for the economic impact payment? Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment.  For filers with inco…

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by Kathy Reakes