I represent taxpayers in the San Francisco Bay Area and the rest of California who have non-filing or collection issues with the IRS. I have found that my clients' have questions about the IRS stimulus payment. The questions are such as: Am I eligible for the payment? How long does it take to receive the payment? What if I have not filed for a few years? Let's look at these and other questions.
How much is the payment? $1,200 for each person with a Social Security Number (SSN) and $500 for each dependent.
You may be eligible to receive a Payment if you:
- Are a U.S. citizen or U.S. resident alien
- Cannot be claimed as a dependent on someone else’s return
- Have a Social Security number that is valid for employment (valid SSN); and Exception: If either spouse is a member of the U.S. Armed Forces at any time during the taxable year, then only one spouse needs to have a valid SSN
- Have adjusted gross income below an amount based on your filing status and the number of your qualifying children. (See below).
To be eligible for the full stimulus payment your Adjusted Gross Income will need to less than $75,000 for Single filers, $112,000 for Head of Household filers, and $150,000 for Married filing Joint filers. If you are above these amounts the payment starts phasing out at a rate of $5 per $100. You will be ineligible when your AGI reaches the following amounts: Single filers $99,000, Head of Household filers $136,500, Married Filing Joint filers $189,000.
If you have filed your 2019 tax return the IRS will use the Adjusted Gross Income from that return. If you have not filed your 2019 return they will use the income from your 2018 return to determine eligibility. Also, if you have not filed your 2018 or 2019 return you will not be able to collect your stimulus check. The IRS requires that you file both returns to be eligible.
If you are a Social Security recipient and you are not required to file a tax return you will automatically get the stimulus check. The IRS will check the Social Security records and determine your eligibility and deposit the money into your account or mail a check.
Receipt of the money will be much quicker if you have the money deposited into your checking account. Checks could take as much as six months.
You can check the status of your payment at the following IRS website. https://sa.www4.irs.gov/irfof-wmsp/notice
If you have any questions or know someone who does, please give me a call:
10504 San Pablo Avenue
El Cerrito, CA 94560