Didn’t file a tax return for 2018 or 2019? You may not be eligible to …
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SAN FRANCISCO (KRON) – While the tax deadline this year has been extended to July, officials are reminding you that in order to receive your stimulus check, you’ll need to have had your tax returns filed.
In a statement released Monday, Sen. Dianne Feinstein (D-Calif.) confirmed that anyone who filed a return for tax year 2018 or 2019 doesn’t need to do anything to receive the stimulus check.
You will automatically receive the appropriate amount based on your income in your latest tax return.
If you are a Social Security recipient, you are also automatically enrolled if you received benefits either year.
Those who did not file a return for 2018 or 2019 should file a return for the 2019 tax year now and sign up for direct deposit to receive stimulus checks as quickly as possible.
If you don’t expect to receive a check or owe any taxes, filing a return is the only way to receive recovery funds.
The package provides one-time payments of $1,200 per adult and $500 per child under the age of 17. Married couples will receive $2,400.
However, payments phase out for individuals making more than $75,000. For every $100 you earn above the limit, payment drops by $5.
Individuals making more than $99,000 and couples making more than $198,000 will not qualify for a payment.
Here are some frequently asked questions and answers you may have regarding stimulus checks:
Who qualifies to receive a check and how much will an individual receive?
Anyone who filed a tax return this year or last year. Individuals receive $1,200, married couples receive $2,400, and child dependents (under 17) receive $500.
What are qualified income levels based off of?
There is no qualified income threshold or requirement to receive the rebate. However, the rebate phases out at a 5 percent rate above adjusted gross incomes of $75,000 for single filers, $112,500 for heads of household, and $150,000 for joint filers.
Can those collecting Social Security or disability receive a check?
Yes, if they filed a tax return this year or last year, or received a form SSA-1099. Otherwise, they need to file a tax return.
How does an individual claim their check?
They do not need to claim their checks (unless they have not either filed a tax return this year or last year) – IRS will send out rebates automatically to their direct deposit or to the address provided on the last tax return submitted.
How long will it take for this check to be delivered?
Rebates sent via direct deposit will take a few weeks. Rebates sent via checks may take a few months.
Will I be taxed on this check?
No, rebates are not taxable.
Will I be eligible if I haven’t finished filing my 2018 taxes?
You need to have filed either a 2018 tax return or a 2019 tax return. If you have not filed either, you will not be eligible. You can file a 2019 tax return now to claim the rebate.
Will I be eligible if I have a lien against me, but I am in non-collect status?
Yes. Rebates will not be subject to garnishment, except if back child support is owed
I withdrew my retirement in 2018- so my income that year was inflated. Is there any waiver for one time sources of income?
In this case, the taxpayer should file a 2019 tax return.
In a statement released Monday, Sen. Dianne Feinstein (D-Calif.) confirmed that anyone who filed a return for tax year 2018 or 2019 doesn’t need to do anything to receive the stimulus check.
You will automatically receive the appropriate amount based on your income in your latest tax return.
If you are a Social Security recipient, you are also automatically enrolled if you received benefits either year.
Those who did not file a return for 2018 or 2019 should file a return for the 2019 tax year now and sign up for direct deposit to receive stimulus checks as quickly as possible.
If you don’t expect to receive a check or owe any taxes, filing a return is the only way to receive recovery funds.
The package provides one-time payments of $1,200 per adult and $500 per child under the age of 17. Married couples will receive $2,400.
However, payments phase out for individuals making more than $75,000. For every $100 you earn above the limit, payment drops by $5.
Individuals making more than $99,000 and couples making more than $198,000 will not qualify for a payment.
Here are some frequently asked questions and answers you may have regarding stimulus checks:
Who qualifies to receive a check and how much will an individual receive?
Anyone who filed a tax return this year or last year. Individuals receive $1,200, married couples receive $2,400, and child dependents (under 17) receive $500.
What are qualified income levels based off of?
There is no qualified income threshold or requirement to receive the rebate. However, the rebate phases out at a 5 percent rate above adjusted gross incomes of $75,000 for single filers, $112,500 for heads of household, and $150,000 for joint filers.
Can those collecting Social Security or disability receive a check?
Yes, if they filed a tax return this year or last year, or received a form SSA-1099. Otherwise, they need to file a tax return.
How does an individual claim their check?
They do not need to claim their checks (unless they have not either filed a tax return this year or last year) – IRS will send out rebates automatically to their direct deposit or to the address provided on the last tax return submitted.
How long will it take for this check to be delivered?
Rebates sent via direct deposit will take a few weeks. Rebates sent via checks may take a few months.
Will I be taxed on this check?
No, rebates are not taxable.
Will I be eligible if I haven’t finished filing my 2018 taxes?
You need to have filed either a 2018 tax return or a 2019 tax return. If you have not filed either, you will not be eligible. You can file a 2019 tax return now to claim the rebate.
Will I be eligible if I have a lien against me, but I am in non-collect status?
Yes. Rebates will not be subject to garnishment, except if back child support is owed
I withdrew my retirement in 2018- so my income that year was inflated. Is there any waiver for one time sources of income?
In this case, the taxpayer should file a 2019 tax return.
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작성일2020-04-01 16:03
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