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Federal Stimulus Payments

  • WHAT IS FEDERAL STIMULUS PAYMENT?
  • WHO IS ELIGIBLE FOR A FEDERAL STIMULUS PAYMENT?
  • HOW MUCH WILL MY STIMULUS CHECK BE?
  • STIMULUS PAYMENTS FOR HIGHT EARNERS?
  • WHAT IF I DIDN’T NEED TO FILE TAX RETURN FOR 2018 OR 2019?
  • WHAT IF I DON4T MAKE ENOUGH TO FILE TAXES?
  • WHAT INFORMATION WILL I NEED TO PROVIDE THE IRS?

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1-866-866-8053

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How Much Do You Owe in Past Tax?
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Federal Stimulus Payments

  • WHAT IS FEDERAL STIMULUS PAYMENT?
  • WHO IS ELIGIBLE FOR A FEDERAL STIMULUS PAYMENT?
  • HOW MUCH WILL MY STIMULUS CHECK BE?
  • STIMULUS PAYMENTS FOR HIGHT EARNERS?
  • WHAT IF I DIDN’T NEED TO FILE TAX RETURN FOR 2018 OR 2019?
  • WHAT IF I DON4T MAKE ENOUGH TO FILE TAXES?
  • WHAT INFORMATION WILL I NEED TO PROVIDE THE IRS?

free consultation

1-866-866-8053

Name
Phone
E-mail
Tax Problem
How Much Do You Owe in Past Tax?
Additional Info

Federal Stimulus Payments: What To Know

By now, you should have received your federal government stimulus payment. These payments will be automatic for most taxpayers. Additionally, no further action is needed on your point to collect your Economic Impact Payment. The stimulus check would have been sent to you via mail, or directly deposited into your account. However, some may not have received a stimulus payment. If you filed taxes in 2018 and 2019, you should get a stimulus payment. However, there are income limits for how much and if you can get a stimulus payment. Furthermore, the IRS may not have your current banking information. We answer all of your questions about federal stimulus checks below. Whether you did get a payment and you have tax-related questions, or you didn’t receive payment, this FAQ should help.

Check the status of your federal stimulus payment at www.irs.gov/coronavirus/get-my-payment.

 

What is the Federal Stimulus Payment?

Millions of American have, or will receive their Economic Impact Payments. In other words, the Coronavirus Aid, Relief and Economic Security Act has authorized these payments. The IRS is calculating and sending the stimulus checks to eligible individuals. However, some taxpayers may need to provide additional information to the IRS in order to receive their checks.

 

Who Is Eligible for a Federal Stimulus Payment?

The IRS has several guidelines regarding who will qualify for a stimulus payment. You may be eligible for an Economic Impact Payment if you:

  • Are a U.S. citizen, permanent resident or qualifying resident alien.
  • Another person cannot claim you as a dependent on their tax return.
  • Carry a social security number that’s valid for employment. Similarly, only one Social Security number is needed if you or your spouse were in the military. Furthermore, that military time will need to be for the taxable year.
  • If you have adjusted gross income below a certain amount. Additionally, qualifying requirements are also based on your tax filing status and how many children you have.

 

How Much Will My Stimulus Check Be?

The federal government is providing all eligible individuals who make $75,000 or less with $1,200. Two eligible individuals filing a joint return will receive $2,400. Additionally, you will receive $500 for each qualifying child on your tax return. Furthermore, eligible individuals do not need a minimum income to qualify for the stimulus check. However, there are limits for higher-income individuals in regards to stimulus check amounts.

 

Stimulus Payments for High Earners

Stimulus checks are reduced by 5 percent of the amount that your adjusted gross income exceeds $75,000. For joint filers, that threshold amount is $112, 500. Additionally, for taxpayers filing as head of household, the threshold amount is $150,000. Furthermore, the economic stimulus payment will reduce to $0 once adjusted gross income reaches the following thresholds:

  • $198,000 for taxpayers filing a joint return
  • $136,500 for taxpayers filing as head of household
  • $99,000 for all others

Additionally, each of the above threshold amounts increases by $10,000 for each additional qualifying child.

 

How do I get my Federal Stimulus Payment?

If you filed your tax returns in 2018 and 2019, no action is required. Additionally, if you filed taxes for 2019, the IRS will use that information to calculate your payment amount. However, if you have not filed for 2019, you are still eligible for a check. In other words, the IRS will use your 2018 taxes to calculate the payment amount.

 

What if I didn’t need to file tax returns for 2018 or 2019?

If you did not need to file tax returns for those years, no further action is needed. In other words, you still get the $1,200 payment. You may not have been required to file taxes if you receive:

  • Social Security retirement
  • SSDI
  • Survivors benefits
  • SSI
  • Railroad Retirement benefits

Furthermore, you do not need to contact the IRS for your payment. They will use the information from your 2019 benefits to generate your payment. Additionally, you’ll receive your payment as a direct deposit or by mail. You should receive the payment the same way you receive your federal benefit payments.

 

What if I didn’t file tax returns for 2018 and 2019 and needed to?

If you did not file taxes for 2018 or 2019, contact Platinum Tax Defenders ASAP for help filing. Taxpayers who did not file taxes for 2018 or 2019 can use the IRS’ Non-Filers online tool. However, the most immediate way to get your payment is to file taxes. Not filing taxes could affect your ability to receive a federal stimulus payment.

 

What if I don’t make enough to file taxes?

On April 10, the IRS released a notice with instructions for people whose gross income was less than $12,200. Individuals who did not need to file a federal income tax return can use the Non-Filers: Enter Payment Info portion of the IRS website. In other words, you can provide the necessary information to the IRS easily and quickly for no fee. Furthermore, the IRS will use this information to determine your eligibility and payment.

 

What information will I need to provide the IRS?

When using the Non-Filers: Enter Payment portion, you should prepare to send the IRS the following:

  • Your full name, mailing address and email address.
  • Date of birth and a valid Social Security number.
  • Your bank account and routing number (if applicable).
  • An IRS Identity Protection Personal Identification Number (if applicable)
  • Your driver’s license or state-issued ID (if applicable).

Additionally, you should prepare the following information for each qualifying child:

  • Full name
  • Social Security Number
  • Adoption Taxpayer Identification Number (if applicable)

 

What if my recent income makes me ineligible, but my current income doesn’t?

In this situation, you may benefit once you file your taxes in 2020. For that reason, it’s important to file your most recent taxes as soon as possible. The stimulus check is technically an advance on a tax credit that’s available for the whole year.

 

What if my bank changed?

You can update your banking information on the IRS’ website. However, be prepared for longer wait times because of high demand. In other words, keep trying, and try late at night or in the early morning.

 

When will my stimulus check arrive?

Stimulus payments have already started showing up in bank accounts. Treasure Secretary Steven Mnuchin said most people should have received their payment by April 17. However, the government is producing and distributing physical checks in batches. Therefore, individuals waiting for physical checks should expect a longer wait.

 

Will I get a stimulus check if I’m unemployed?

Yes, unemployed individuals are still eligible for stimulus checks.

 

What if I don’t receive my payment?

During the week of April 13, the IRS released an online tool allowing you to track your payment status. You should receive a paper notice in the mail confirming your payment was disbursed. Additionally, that notice will contain information about where the payment was sent and how it was made. However, if you can’t locate it at that point, you can contact the IRS. Furthermore, contact the IRS using the information that’s listed on the notice.

 

Do I have to pay income taxes on my stimulus check?

The federal stimulus check is technically a tax credit. Therefore, you do not have to pay taxes on the money given to you.

 

Will my stimulus check be garnished for debt?

Your stimulus payment will not be garnished for to repay debts. Furthermore, this bill temporarily suspends almost any effort to garnish tax refunds to pay debts.

 

If you have any further questions regarding your Economic Impact Payment, call Platinum Tax Defenders. We can be reached at 866-866-8053. Alternatively, you can find us at www.platinumtaxdefenders.com. You can also check the status of your federal stimulus payment at www.irs.gov/coronavirus/get-my-payment.

Platinum Tax Defenders

WHO WE ARE

Platinum Tax Defenders is a full-service tax resolution firm in Los Angeles that has been helping taxpayers resolve their IRS and State tax issues since 2011. Our team of tax attorneys, accountants, and enrolled agents have a combined more than 90 years of experience in the financial services industry. Our team is ready to provide tax relief services to clients facing wage garnishments, bank levies, liens, and other challenges.

WHAT WE DO

Platinum Tax Defenders is a full-service tax resolution firm that includes a tax attorney, IRS enrolled agents and certified public accountants specializing in providing tax relief services for taxpayers facing IRS or State tax debt. We work with the IRS on your behalf to come up with reasonable payment options and settlements. Our tax professionals are knowledgeable and experts in tax negotiations. The consequences of unpaid taxes vary by each individual taxpayer’s situation. But unpaid tax debt can lead to wage garnishment, property liens, and bank account levies.

Platinum Tax Defenders will help you reach a tax resolution plan before it’s too late. We offer fast response protection to our clients and a commitment to gaining major tax reductions. Whether this is your first time facing a tax problem, or you have previously hired a tax relief firm in Los Angeles to resolve your tax debt, we have a track record of consistently garnering IRS settlements for our clients.

WHY TRUST US

At Platinum Tax Defenders, we’ve developed an impeccable reputation for doing what’s best for our clients, 100 percent of the time. We are honest and upfront with you about your tax debt situation, and the type of tax resolution services we can provide. Each individual tax situation is different, and we’ll do whatever we can to negotiate with the IRS to help you reach a tax relief plan that works for you. We are experts in our field and work diligently to resolve the specific tax issues that each of our clients faces. Platinum Tax Defenders offers fair and honest tax resolution services, and you can count on us to operate professionally and legally.

Many tax relief services in Los Angeles tend to make promises that are unrealistic. You can count on us to always be honest and upfront about your financial situation, and what type of tax resolution results you should expect.

Call Platinum Tax Defenders today for a free consultation at +1-866-866-8053

 Actual Client Results 
Recent Savings: $1,012,060
Client IDOwedSettlement
10665
$108,000$1,016.0
10711$127,000$100.0
10649$146,996$100.0
10671
$67,000.0$800.0
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Contact us at the Platinum Tax Defenders 

I received a letter from the IRS and it says that I didn’t file my taxes. In order to get some assistance, I found Platinum Tax Defenders! The staff took time on the phone with me to really understand my situation also my needs. The staff was friendly and helpful. I highly recommend Platinum Tax Defenders!!!

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Martha B
Tax Relief, www.bbb.org