There’s been a lot of things coming out of Washington this week. Some of the details aren’t clear yet but one thing that has a lot of people excited is a stimulus check. Right now it looks like a married couple can get up to $2,400. Treasury Secrety Steven Mnuchin has said they want to get it out ASAP and it will happen within the next few weeks. This is great news for many people and will provide some relief to some of the people who have been hit the hardest by all of the business slow downs and closures that have been happening.
My main focus is on Taxpayer represenation and Tax Resolution. I work with clients in my Hartford county office and remotely with people all through out the country. One of the most common types of cases I take on is with nonfilers. At a seminar I attended the director of collections for the IRS stated that they identified over 7 million nonfilers that they were goig to be targetting. If they're targetting 7 million there's likely several million more who they don't think is worth the effort to pursue. For all of those millions of nonfilers, this is a big problem for them. Your eligibility and the amount you’d receive from the stimulus check is going to be based off of your 2018 tax return. Right now it looks like if you didn’t file a 2018 return, you may not be getting a check. If you or someone you know hasn’t filed for 2018 have them contact me NOW if not sooner. Unless they come up with some alternative valuation system for these people, it may already be too late. The best shot they have is getting the 2018 return filed ASAP.
Joseph Orabona
Vector Tax & Accounting LLC
576 Elm St.
Windsor Locks, CT 06096
(860) 580-5183
Joe@vectortax.com
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