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$ 1,200 payment if no 2018 tax return filed ?
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IR-2020-61, March 30, 2020 — The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. Updated with new information for seniors, retirees on April 1, 2020.
"payments will begin in the next three weeks"
I really can't see how people can expect to see a check in their hands in 3 weeks. At some point in time they have to cutoff the date when they check 2018 vs. 2019 returns that were accepted.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR
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The IRS website Q&A page on stimulus payment requirements is clear as mud to me.
As I read it, it looks as if someone on social security only & not filing a tax return will still need to file a "simple" return to get their $ 1,200.
I had thought my original post's question had been answered through the default process explained earlier in the replies.
What am I missing ?
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Originally posted by RWG1950 View PostThe IRS website Q&A page on stimulus payment requirements is clear as mud to me.
As I read it, it looks as if someone on social security only & not filing a tax return will still need to file a "simple" return to get their $ 1,200.
I had thought my original post's question had been answered through the default process explained earlier in the replies.
What am I missing ?
The Q&A is clearly contrary to what the law says. That law specifically says that if a 2019 or 2018 tax return has not been filed, they will use the SSA-1099 (and RRB-1099).
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Originally posted by rbynaker View Post
Interesting. I agree with everything except "Social Security recipients" which was very specifically carved out in the law.
Not sure if I've mentioned it yet on this board, but I'm pretty convinced that in 200 years historians will look back and call this the Misinformation Era.
Rick
Chris
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Originally posted by ATSMAN View Posthttps://www.irs.gov/newsroom/economi...u-need-to-know At some point in time they have to cutoff the date when they check 2018 vs. 2019 returns that were accepted.
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Apparently, the IRS is still reading through the legislation:
WASHINGTON – The U.S. Department of the Treasury and the Internal Revenue Service today announced that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact Payment. Instead, 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 an action, and will receive their payment directly to their bank account,”?said Secretary Steven T. Mnuchin.? ? The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019.?Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits. ? ####
Social Security Recipients do not need to find and file this "Simple Tax Return."Doug
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For folks getting Soc. Security they already have their DD info so it makes no sense for them to file the Simple Return. And I guess it does not matter if you took your mother as other dependent on your tax return.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR
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