If you haven’t received a stimulus check yet, you still have time. The IRS has recently extended the deadline to register for your stimulus check to November 21, 2020, five weeks past the previous October 15, 2020 deadline. This can impact over 9 million people across the country, helping to soften the blow of the coronavirus pandemic. The professionals at SD Associates are sharing everything you need to know about the extension and the non-filers stimulus check.
The non-filer stimulus check is typically reserved for those who have not received a stimulus check yet, including low-income families who live in underserved areas or individuals who made little or no money and didn’t have to file. U.S. citizens and U.S. resident aliens are eligible for checks of up to $2,400 if filing joint tax returns and can get up to an extra $500 with qualifying children aged 16 or younger at the end of 2019. To receive the full payment, there are also income limits including:
- $150,000 for married couples filing joint returns
- $112,500 for the head of household filers
- $75,000 for all other eligible individuals
This extended deadline could help millions of people pay rent, cover bills, feed their families, and pay for other essentials.
How to File
To meet the deadline for the stimulus check, individuals should register as quickly as possible using the Non-Filers tool on IRS.gov. It’s important to understand that this tool will not be available after the November 21 deadline because the IRS needs to prepare for the upcoming 2020 tax filing season. IRS Commissioner Chuck Rettig states, “Any further extension beyond November would adversely impact our work on the 2020 and 2021 filing seasons. The non-filers portal has been available since the spring and has been used successfully by many millions of Americans.” According to the IRS, they sent nearly 9 million letters in September reminding people who meet the requirements for the $1,200 Economic Impact Payment but who don’t normally file a tax return to register for their stimulus check.
Individuals should know there is no cost to register. If you do not have access to the internet, the IRS encourages you to file a tax return for 2019 with the IRS or electronically through your tax preparer, tax software provider, or the IRS Free File. To speed up the process, choose to receive your check by direct deposit versus a paper check by mail. You may review the status of your check by using the IRS Get My Payment tool. If you miss the deadline for the stimulus check, you will have to file a 2020 income tax return to claim your credit.
SD Associates is here for you. As the pandemic carries on, our CPAs are here to offer expert tax services at affordable prices to ensure you and your business gain peace of mind and control over your taxes. Whether you’re looking to find eligible tax credits, develop a smart payment plan or you just want to create an effective business strategy, know our team is here to help. Connect with our accountants today and let us help you with all your tax service needs.