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Register by Nov. 21 to get an Economic Impact Payment; same deadline for federal beneficiaries to get missed $500 per child payments

19 Nov 2020 1:21 PM | Anonymous

WASHINGTON – The Internal Revenue Service today reminded people  who don’t normally file tax returns that they have until Nov. 21 at 3 p.m. Eastern time to register for an Economic Impact Payment. They also may be eligible to get to a $1,200 payment for their spouse and $500 for each qualifying child. 

The extended Nov. 21 deadline also gives more time to federal beneficiaries who already received an EIP but didn't register to receive supplemental $500 payments for qualifying children. Those eligible to provide this information include people with qualifying children who receive Social Security retirement, survivor or disability benefits, Supplemental Security Income (SSI), Railroad Retirement benefits and Veterans Affairs Compensation and Pension (C&P) benefits and did not file a tax return in 2018 or 2019.

The IRS also urges anyone who didn't have a requirement to file a tax return in 2018 or 2019 to register for an Economic Impact Payment by using the Non-Filers tool before the Nov. 21 deadline. This includes qualified low-income families.

The Non-Filers tool is designed for people with incomes typically below $24,400 for married couples, and $12,200 for singles, who could not be claimed as a dependent by someone else. This includes couples and individuals who are experiencing homelessness.

As a reminder, anyone using the Non-Filers tool can speed the arrival of their payment by choosing to receive it by direct deposit. Those not choosing this option will get a check. Beginning two weeks after they register, people can track the status of their payment using the Get My Payment tool, available only on IRS.gov.

The only way for those who don’t have a filing requirement to get both the basic payment and the additional amount for each qualifying child is to register using the Non-Filers: Enter Your Payment Info Here tool on IRS.gov. The tool will automatically calculate the payment for any eligible couple or individual who registers and includes the requested information for their qualifying children. In addition, those who have already registered will soon get a payment to cover their qualifying children.

Who should not use the Non-Filers tool?

Those who are required to file a 2018 or 2019 tax return should NOT use the Non-Filers tool; they should file their tax return electronically. Those who can be claimed as a dependent on another person’s tax return should also NOT use the Non-Filers tool.

For persons required to file a tax return

For people who filed 2019 tax return, the IRS used information from it about them, their spouse, their income, filing status and qualifying children to calculate the amount and issued a payment. For those who haven’t filed a 2019 tax return, or it has not been processed yet, the IRS used the information from the 2018 tax return to calculate the amount and issued a payment. The IRS is not able to correct or issue additional payments at this time and will provide further details on IRS.gov on the action people may need to take in the future.

What is a qualifying child?

In general, this is your dependent who was under age 17 during 2019. This may include your children, grandchildren, nieces and nephews. Any of them who can be claimed as a dependent by someone else don’t qualify. Likewise, anyone who was at least 17 years old in 2019 also does not qualify. More specifically, a qualifying child is anyone who:

  • Is related to you in one of several ways. This means the child is your son, daughter, stepchild, eligible foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister or a descendant of any of them (for example, grandchild, niece or nephew).
  • Is younger than you.
  • Is under the age of 17 at the end of 2019.
  • Is your dependent.
  • Is a U.S. citizen, U.S. national or U.S. resident alien.
  • Lived with you for more than half of 2019.
  • Did not provide over half of their own support during 2019.
  • Has either a valid Social Security number or an Adoption Taxpayer Identification Number (ATIN).

All of these requirements must be met.

New in 2021: Those who didn't receive an EIP may be able to claim the Recovery Rebate Credit

For individuals who did not receive an Economic Impact Payment or the full amount that they believe they are entitled to, they will be able to claim the additional amount when they file a 2020 tax return in 2021. This will be called the Recovery Rebate Credit.

Taxpayers may be able to claim the Recovery Rebate Credit if they met the eligibility criteria in 2020 and:

  • They didn't receive an Economic Impact Payment this year, or
  • Their Economic Impact Payment was less than $1,200 ($2,400 if married filing jointly for 2019 or 2018) plus $500 for each qualifying child.
  • For additional information about the Economic Impact Payment, taxpayers can visit the Economic Impact Payment Information Center.

Keep the Notice 1444, Your Economic Impact Payment, received in the mail regarding the Economic Stimulus Payment with tax records. This notice will be mailed to each recipient’s last known address within a few weeks after the payment is made. When filing a 2020 tax return next year, taxpayers can refer to Notice 1444 and claim additional credits on a 2020 tax return if eligible. The IRS will provide further details on IRS.gov on the action they may need to take.

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