Register for stimulus check

[KatrinaB48]

Please view this IRS link for more information about how to receive a stimulus check.

[queenjo1965]

Hi, can I register now, then file my taxes for 2019 tomorrow or soon after?

[CatinaT1]

You don't need to register if you are going to file tomorrow or soon.

[queenjo1965]

My concern has been that if I and delayed to get my taxes out beyond tomorrow or very soon after, that it will out a delay on the stimulus check, and I'm sure it will. My question was can I register now? And so stop stressing a delay? 

[DavidD66]

You can add or update your banking/mailing address with the IRS by going to TurboTax Coronavirus Tax Center: 2020 Stimulus.  You can then file your tax return when you're ready.

[queenjo1965]

I'll try that! Thank you Dave.☺️

[jtax]

That link is not working for me at this time. The IRS has info here

https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

Turbotax has a page here https://turbotax.intuit.com/stimulus-check/

you can use it to update your direct deposit information. But (and this is very subtle) it does so by filing a 2019 tax return for you. So it appears that you cannot later file a 2019 tax return. So that really only works if you do not have a 2019 filing requirement. If you will file later then perhaps you should file an extension https://turbotax.intuit.com/irs-tax-extensions/ ... perhaps if you make a payment (even $1) via direct debit that info might carry over to stimulus payments. But I don't know that for sure.

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[queenjo1965]

Hi David, this is Linda queen you answered one if my questions yesterday about being able to register for the stimulus check before I did my 2019 taxes. I had already done my 2018 tax returns so when I registered today and was asked questions about the 2018 returns I of course answered them. I just received a text toy phone saying " your federal stimulus returns was rejected! I have no income at all right now, as I'm am a Barber and the shop I worked at is closed I am so devestated and scared because I was going to use the stulus check to catch up on my rent that is accumulating..did they mean to say I Will Not be receiving a stimulus check? I'm so poor and need it badly as the barber shop I worked at was very slow and I barely made I've 180.00 or so a week. Please help explain this to me if you can.

[Critter]

If you are required  to file a 2019 return :

And you have not  filed  YET ... then file  the 2019 return asap entering the DD info in the FILE tab.

If you HAVE filed the 2019 return  and need to update your address or DD info :

1) wait for the IRS portal to open later this month to update your DD info.

2) mail in a form 8822 to change the address.

If you are NOT required to file a 2019 return AND  you are NOT receiving SS benefits :

You can register for the stimulus check using this TT option : https://turbotax.intuit.com/stimulus-check/

If the "simple" return register is rejected then  all you can do is mail in the return.

 I appreciate everyone wants their money NOW, but in some cases that won't be possible…

the only issue is WHEN you receive the money not IF you are going to receive the money  …

from what Treas. Sec. Mnuckin said last week, direct deposits should be in checking / savings account by April 14 (end of the month if you have social security only and do not file)…

for checks, they are to begin mailing the week of April 24 in 'income order'  Under 10k of income the week of APril 24, under 20k of income the week of May 1, etc .

when they did this in 2008 it took SIX months to get it done; it's  a lot quicker this time

The  IRS is required to send you a letter within 15 days after they send out the money.... so if you get the letter and did not get the money, i am sure the letter will give you contact information.  

Figure the direct deposits will occur by April 14 (that was the plan announced last week) and I suspect there will a lot in the news once they start the deposits. 

[jtax]

@queenjo1965 hello. you are posting in a public volunteer forum. David might or might not read your question.

If you filed a 2018 return and had direct deposit info correct on that you are all set to receive the stimulus payment.  Same for 2019. Did you file a 2019 return?

The TT stimulus site https://turbotax.intuit.com/stimulus-check/ will file a "minimal" 2019 return for you so the IRS has your bank info. This is only for people who have not already filed a either 2018/2019 return and won't need to do so in the future. (or who have changed banks after 2018 but don't need to file 2019).

It sounds like you tried to filed that "minimal" 2019 return and either got the 2018 info slightly wrong (which would cause a rejection for security reasons) or you had already filed your 2019 return (which would get you a rejection for a different reason).

None of that has anything to do with whether you will get stimulus money. The only issue is if the IRS has your correct bank info.

Basically all US residents with  < $100,000 in 2018/2019 income (single) will get $1200. The income limits are different for married and there is more $ if you have dependents (usually kids).

Please ask again if you still have questions (perhaps in a new thread).

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[queenjo1965]

Hi, I need some advice. I started my job in Sept if 2019 as a registered Barber. I am concidered a self contractor. In  the past when I still had children in the home I filed my taxes one a year rather than quarterly. I recently registered on here to up date my bank info and address so I can get the stimulus check as soon as possible. That evening I received a text saying my "your stimulus return has been denied. So I'm assuming it's because I need to file last for 2019, should I also file for the first quarter of this yr? We where shut down 3rd week in March. Would I qualify for unemployment even though I didn't make much money either quarter as it takes time to build a client base. I don't have any money what's so ever coming in and rent is accumulating. I'm so stressed out. Also I'm not computer savvy. Would you know if it's easy enough for me to file here on-line with irs I think it is.

• Sincerely, Jo

[Critter]

@queenjo1965 

Thank your lucky stars the "simple registration" return was rejected since you ARE required to file a 2019 return which you should do asap even if you owe ... you can file now and pay as late as 7/15.  

If your total income in 2019 is less than $36K then switch over to the TT FREE FILE option so you can get the return done for free ...   https://freefile.intuit.com/

Unless you incorporated you will still only file ONE tax return including the Self Employed income on the Sch C that is part of the 1040.  You may need to file quarterly estimated tax payments but NOT 4 income tax returns a year. 

As to the unemployment ... that is a question for your state unemployment office to answer. 

If you are new to being self employed, are not incorporated or in a partnership  and  are acting as your own bookkeeper and tax preparer you need to get educated ....  

If you have net self employment income of $400 or more you have to file a schedule C in your personal 1040 return for self employment business income. You may get a 1099-Misc for some of your income but you need to report all your income.  So you need to keep your own good records. Here is some reading material……

IRS information on Self Employment….
http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Self-Employed-Individuals-Tax-Center 

Publication 334, Tax Guide for Small Business
http://www.irs.gov/pub/irs-pdf/p334.pdf 

Publication 535 Business Expenses
http://www.irs.gov/pub/irs-pdf/p535.pdf 

Home Office Expenses … Business Use of the Home

https://www.irs.gov/businesses/small-businesses-self-employed/home-office-deduction

https://www.irs.gov/pub/irs-pdf/p587.pdf

Publication 946 … Depreciation

https://www.irs.gov/pub/irs-pdf/p946.pdf

          

There is also QuickBooks Self Employment bundle you can check out which includes one Turbo Tax Self Employed return and will help you keep up in your bookkeeping all year along with calculating the estimated payments needed ....
http://quickbooks.intuit.com/self-employed

Self Employment tax (Scheduled SE) is generated if a person has $400 or more of net profit from self-employment on Schedule C.  You pay 15.3% for 2017 SE tax on 92.35% of your Net Profit greater than $400.  The 15.3% self employed SE Tax is to pay both the employer part and employee part of Social Security and Medicare.  So you get social security credit for it when you retire.  You do get to take off the 50% ER portion of the SE tax as an adjustment on line 27 of the 1040.  The SE tax is already included in your tax due or reduced your refund.  It is on the 1040 line 57.  The SE tax is in addition to your regular income tax on the net profit.
 


PAYING ESTIMATES
For SE self employment tax - if you have a net profit (after expenses) of $400 or more you will pay 15.3% for 2017  SE Tax on 92.35% of your net profit in addition to your regular income tax on it. So if you have other income like W2 income your extra business income might put you into a higher tax bracket.

You must make quarterly estimated tax payments for the current tax year (or next year) if both of the following apply:
- 1. You expect to owe at least $1,000 in tax for the current tax year, after subtracting your withholding and credits. 
 
- 2. You expect your withholding and credits to be less than the smaller of: 
    90% of the tax to be shown on your current year’s tax return, or 
  100% of the tax shown on your prior year’s tax return. (Your prior year tax return must cover all 12 months.)

To prepare estimates for next year, You can just type W4 in the search box at the top of your return , click on Find. Then Click on Jump To and it will take you to the estimated tax payments section. Say no to changing your W-4 and the next screen will start the estimated taxes section.

OR Go to….
Federal Taxes or Personal (H&B version)
Other Tax Situations
Other Tax Forms
Form W-4 and Estimated Taxes - Click the Start or Update button