How will the stimulus package impact me?

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
EnglishEN

Pick a language

English Français
Announcements
Get the latest stimulus news and tax filing updates.
cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Intuit

How will the stimulus package impact me?

The Coronavirus Aid, Relief and Economic Security (CARES) Act, a $2 trillion stimulus package, will deliver relief through a range of measures, including an advanced tax rebate to taxpayers.

It entails a refundable tax credit of up to:

  • $1,200 for individuals
  • $2,400 for joint taxpayers
  • $500 per qualifying child

Stimulus payments will be based on information from your most recent tax filings, either 2019, or 2018 if you haven't filed this season yet. But, the amount paid to you now will be reconciled on next year’s tax return based on your current 2020 situation.

You can check on the status of your stimulus payment at the IRS Get My Payment site.

You’ll get your stimulus payment the same way you received your refund on your latest return (2019 or 2018)—either direct deposit or check. If the account you used is no longer valid, you’ll get either a check or a prepaid debit card. Go here for more info about the IRS stimulus payment cards.

And if you didn’t get a refund, the IRS has stated that they will mail your stimulus check or debit card to the address from your most recent return. Even if you made a payment to the IRS using your bank account, the IRS will still mail your check.

You may be able to use the IRS tool to add banking information if you would prefer to receive your stimulus money as a direct deposit. But, if it says that your payment is pending or has been processed, you won’t be able to change your bank account info.

Didn’t file a 2018 return and haven’t filed your 2019 return yet? Now’s a good time; the sooner you file, the sooner you’ll get your stimulus payment. If you’re expecting a refund, remember to choose direct deposit; if you owe, you have until July 15 to pay.

The IRS Get My Payment  site lets you:

  • Check your payment status
  • Confirm your payment type, direct deposit or check
  • Enter your bank account information if it’s not already on file

If you filed jointly with your spouse, either one of you can use Get My Payment. Once your info is verified, the same payment status will be shown for both of you.

Be sure to use the information from your latest tax return when using Get My Payment, as the IRS will use it to verify your identity. You can find your return under My tax returns & documents when you sign in to TurboTax.

If you're on Social Security, you'll automatically get a stimulus payment from the government. For those that aren’t required to file a tax return, use the IRS Non-Filers: Enter Payment Info tool to submit your information by November 21.

A person likely won’t qualify for the payment if any of the following apply:

  • Their adjusted gross income is greater than
    • $99,000 if your filing status was single or married filing separately
    • $136,500 for head of household
    • $198,000 if your filing status was married filing jointly
  • They can be claimed as a dependent on someone else’s return. For example, this would include a child, a student, or an older dependent who can be claimed on a parent’s return.
  • They don’t have a valid SSN.
  • They’re a nonresident alien.
  • They’re incarcerated.
  • They filed Form 1040-NR or Form 1040NR-EZ, Form 1040-PR or Form 1040-SS for 2019.
  • They died prior to receiving the payment.

If you received a payment by mistake, you must return it to the IRS.

Nothing. If you receive Social Security benefits you’ll automatically receive the stimulus payment and won’t need to file a tax return or register.

You can also get an extra $500 per qualifying child dependent. If you filed tax returns in 2018 or 2019, the child payments will also be automatic. If you didn’t, use the IRS Non-Filers: Enter Payment Info tool to submit your information by November 21.

Nothing. If you receive Compensation and Pension benefits from the VA, you’ll automatically receive the stimulus payment and won’t need to file a tax return or register.

You can also get an extra $500 per qualifying child dependent. If you filed tax returns in 2018 or 2019, the child payments will also be automatic. If you didn’t, use the IRS Non-Filers: Enter Payment Info tool to submit your information by November 21.

If you file a tax return, you can use Get My Payment to check the status of your payment after you verify your identity by answering the required security questions.

If you don’t file a tax return, you won’t be able to use Get My Payment to provide your bank account information. The IRS will use the information on your Form SSA-1099 or Form RRB-1099 to generate your payment. You’ll get your payment as you normally receive your benefits, either as a direct deposit or by mail.

Unfortunately, people who file a return with an ITIN aren’t eligible for stimulus payments. The only exception is if two spouses file a joint tax return and either spouse is a member of the U.S. Armed Forces, then only one spouse needs to have a valid SSN.

If you filed jointly and your spouse doesn’t have a Social Security number, you aren’t eligible to receive a stimulus payment. The only exception is if two spouses file a joint tax return and either spouse is a member of the U.S. Armed Forces, then only one spouse needs to have a valid SSN.

If, however, you have a valid Social Security number and file separately from your spouse for 2019, you should be eligible for a stimulus payment.

Yes. If you owe the IRS this year, for a previous year, or if you’re on an installment plan, you’ll still get your stimulus payment. The law says no offsets for existing federal tax debts. There is, however, an exception for child support. If you owe child support, your check can be seized for the outstanding amount.

No. Only qualifying child dependents under 17 are eligible for the additional $500 stimulus payment. Adult dependents also cannot receive their own stimulus payment as they are claimed on your return.

The IRS will look first at the 2019 return to determine stimulus payments. So, whichever parent claimed the child in 2019 will get the $500 payment for them.

If neither parent has filed a 2019 return, the IRS will look at 2018 returns. In that case, whichever parent claimed the child in 2018 would get the $500 payment.

No, according to the IRS, you aren’t legally obligated to return any of your stimulus payment in this situation.

The IRS is sending stimulus payments to eligible taxpayers who filed a tax return in either 2019 or 2018 and chose direct deposit, and is depositing some stimulus payments onto Turbo Visa® Debit Cards.

If your stimulus payment was deposited to your Turbo Card, text BAL XXXX (XXXX are the last 4 digits of your card number) to 43411 to get your available balance.

You can also check the status of your stimulus payment through the IRS Get My Payment site.

If you don't have your physical Turbo Visa Debit Card anymore, you can request a replacement card by either signing in to your Turbo Visa Debit Card account or calling 888-285-4169 and reporting your card lost/stolen. We’ll waive or refund standard replacement fees so there’s no cost to you.

You can also request a check for the money on your Turbo Visa Debit Card by calling Green Dot at 888-285-4169 and speaking to a customer service specialist. You’ll get your check in the mail in approximately 14–21 days.

Even if you requested a direct deposit payment, the IRS may have mailed your check instead. According to the IRS, here are a few reasons why:

  • The IRS may have started processing your payment before your bank information was entered.
  • The IRS may not have the correct bank information. (Note: The bank account information for TurboTax filers is transmitted to the IRS as a part of the tax return, but the IRS has ultimate authority on how they distribute payments.)
  • Your bank may have rejected the direct deposit.

The IRS will mail your stimulus check to the address from your most recent return. It can take up to 14 days to arrive.

According to the IRS, the IRS plans to mail a letter to the taxpayer’s last known address within 15 days after the payment is made. The letter will provide information on how the payment was made and how to report it, if you did not receive the payment. Visit https://www.irs.gov/ for more information.

No, your stimulus payment isn’t taxable. It won’t reduce your refund or increase what you owe when you file your taxes next year. It’s also not considered income, so it won’t affect your eligibility for any federal government assistance or benefits.

The IRS will continue to make payments throughout the rest of 2020. If you don’t receive a payment this year, you can also claim it by filing a tax return for 2020 next year.

Stimulus payments are based on income, filing status, and family size. The IRS has shared some common reasons why your stimulus payment might not have been what you expected.

  • You haven’t filed your 2019 return, or they haven’t finished processing it.
  • The dependents you claimed aren’t eligible for the additional $500.
    • This could be because they don’t meet the Child Tax Credit requirements, they’re in college, or they’re parents/relatives over the age of 17.
  • Past-due child support was deducted.
  • Creditors garnished the payment after it was deposited into your account.

If your stimulus payment was less than you expected, you might qualify to get an additional amount early next year when you file your 2020 return. Be sure to keep your stimulus payment letter for your records. If you’re eligible, you’ll be able to claim additional credits when you file.

If you received a payment for someone who doesn’t qualify, you must return it to the IRS.

IRS instructions to return a paper check:

  1. Write VOID in the endorsement section on the back of the check.
  2. Mail the voided Treasury check immediately to the appropriate IRS location listed in the link below.
  3. Don’t staple, bend, or paper clip the check.
  4. Include a separate note stating the reason for returning the check.

IRS instructions to return an already cashed paper check or a direct deposit:

  1. Submit a personal check, money order, etc., immediately to the appropriate IRS location listed in the link below.
  2. Make the check/money order payable to U.S. Treasury. Write 2020EIP and the taxpayer identification number (social security number, or individual taxpayer identification number) of the check’s recipient.
  3. Include a brief explanation of why the payment is being returned.

Find the appropriate IRS mailing address to use based on the state here.

If you received your notice of payment in the mail, but have not received your direct deposit or if your check was lost, stolen, or destroyed, you’ll need to request a Payment Trace from the IRS. There are two ways to start the process.

  1. Call the IRS at 800-919-9835 (there may be long wait times because of limited staffing), or
  2. Submit Form 3911, Taxpayer Statement Regarding Refund. Make sure you,
    • Write EIP on the top of the form and complete Sections I, II and III
    • Answer the questions as they relate to your stimulus payment
    • Check the box for Individual as the Type of return and enter 2020 as the tax period. Leave the date filed blank.

For more information about requesting a Payment Trace, including where to fax or mail Form 3911, visit the IRS Economic Impact Statement Information Center.

No. When you registered your information for a stimulus payment before filing your taxes for 2019, you filed a federal tax return that was designed for people with no filing requirement. In order to submit your full return now, you'll need to print and mail it instead of e-filing.

Before you mail, write Amended EIP Return at the top of your 1040 form (your federal return), without writing over any other information or fields.

If you owe taxes, you should pay the IRS by July 15 to avoid any penalties.

Visit the IRS Economic Impact Payment Information Center for more information.

Was this helpful?

You must sign in to vote, reply, or post
v
Privacy Settings