Home / IRS: What you need to know about economic impact payments

IRS: What you need to know about economic impact payments

April 2, 2020 | COVID-19

UPDATE: The U.S. Department of the Treasury and the Internal Revenue Service 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. READ MORE (Treasury News Release, April 1, 2020)

A release on March 30 from the IRS answers common questions about distribution of economic impact payments beginning in the next three weeks. They will be “distributed automatically with no action required for most people.” READ THE BULLETIN AT IRS.GOV Topics covered include:

Who is eligible for the economic impact payment?

How will the IRS know where to send my payment?

The IRS does not have my direct deposit information. What can I do?

I am not typically required to file a tax return. Can I still receive my payment?

How can I file the tax return needed to receive my economic impact payment?

I have not filed my tax return for 2018 or 2019. Can I still receive an economic impact payment?

I need to file a tax return. How long are the economic impact payments available?

Where can I get more information?