IRS website – Get My Payment Frequently Asked Questions (updated 5/4/2020)
On its website, IRS has added to its FAQs regarding its “Get My Payment” website; that website provides information about the payment of economic impact payments (EIPs) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Background: As part of the CARES Act, IRS is making EIPs to certain taxpayers.
Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Eligible taxpayers who filed tax returns for either 2019 or 2018 automatically receive an EIP of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child under the age of 17 as of the end of 2020.
IRS has set up the Get My Payment website/tool that:
a. Shows taxpayers either their EIP amount and the scheduled delivery date of the EIP by direct deposit or paper check, or that a payment has not been scheduled; and
b. Allows taxpayers who did not use direct deposit on their last filed tax return to provide their direct deposit information which will speed their receipt of their EIP.
To use the Get My Payment tool, a taxpayer must enter certain pieces of information from their 2019 return, including their adjusted gross income (AGI).
On April 28, 2020, IRS revised its FAQs about the Get My Payment website. See IRS updates “Get My Payment” COVID-19 economic impact payment FAQs (04/29/2020).
Added FAQs The IRS added two FAQs on May 4:
Q. I do not file a tax return because I don’t meet the income requirement to file, did not use the Non-Filers: Enter Payment Info Here tool on IRS.gov and get Social Security retirement, survivor or disability benefits (SSDI), Railroad Retirement benefits, Supplemental Security Income (SSI) and VA Compensation and Pension (C&P) benefits. Can I use Get My Payment to check my payment status or change how I receive my payment?
A. While you can check your payment status when it is scheduled for delivery, you will not be able to use Get My Payment to provide your bank account information because you did not file tax returns for 2018 or 2019. The IRS will use the information from SSA, the VA or RRB to generate your payment. You will receive your payment as a direct deposit or by mail, just as you would normally receive your benefits.
For example, if your benefits are currently deposited to a Direct Express card (a debit card to which federal benefits like Social Security benefits can be automatically deposited), your EIP will also be deposited to that card. If your benefits are currently deposited to your bank account, your EIP will be deposited to that account.
The IRS notes that if a Direct Express Account Holders uses the Non-Filers: Enter Payment Info Here tool to add a spouse or qualifying children, the account holder cannot receive payment on the Direct Express card. The account holder may only select a bank account for direct deposit or leave bank information blank and receive the EIP by mail.
Q. How do I enter a negative AGI amount?
A. Enter your Adjusted Gross Income (AGI) without the minus sign or the parenthesis. For example, -$2,492 or ($2,492) should be entered as 2492.