Joe Biden’s Tax Plans For The Next Few Years
Published in 미분류.
In other words, you’re typically able to keep your full stimulus payment in this case. Stimulus payments are being made through the end of 2020. If you received one of these checks or are on track to get one, you might be curious how the stimulus payment affects your taxes.
You can claim the same amount as you would have gotten in a direct payment check. If you’re one of the 14.1 million Americans who don’t have a bank account, you’ll still be able to receive a stimulus payment. If you split your tax refund between multiple accounts, the IRS will send your stimulus payment to the first account you listed on Form 888.
In short, while there is a relationship between your check and your taxes, receiving a check won’t increase your tax liability or reduce your refund. An unfamiliar account number might also have something to do with how you filed your taxes. For example, if you used a tax preparation company, the IRS might have the tax preparer’s account on file instead of yours.
The IRS will mail your check to the address it has on file for you. That’s fine — the IRS will send you a paper check in the mail.
That means immigrants with green cards and people on H-1B and H-2A visas will get payments. Non-resident aliens, temporary workers, and undocumented immigrants won’t receive payments.
The IRS’s Get My Payment application is the only official way to find out when you’re scheduled to receive your stimulus check. It will also tell you how you’ll receive your payment—by direct deposit, by prepaid debit card or by check.
Do it sooner rather than later, as a Treasury spokesperson said officials expect the first paper checks to “be in the mail early next week,” meaning the week of April 20. Both tax preparers now say the IRS sent some stimulus checks to company bank accounts instead of to their customers’ personal accounts.
If the beneficiary did file a 2019 or 2018 tax return, the payment will be deposited to the same bank account or debit card as the most recent tax refund or mailed to the address on the beneficiary’s last tax return. The IRS will determine most people’s income eligibility by looking at the tax returns they filed earlier this year.
If you’re not required to file taxes, or if your income is under $12,200 ($24,000 for a married couple filing jointly), you still need to enter your payment information on the IRS website to receive your stimulus payment. Even if you have no income, you need to enter your information on the IRS site.
In crafting the latest stimulus bill, lawmakers have sought to rectify a few issues that restricted payment of the first stimulus checks earlier this year. But a stimulus check is not the same as SSI payments or tax refunds; the stimulus is paid to consumers when the government decides economic conditions warrant it.