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bighardd
Returning Member

Can we use the IRS "direct deposit tool" if we were self-employed?

I have a question for the tax experts here. I'm trying to figure out the quickest way to get my direct deposit info to the IRS for the $1,200 stimulus.
I did not file in 2018 or 2019 yet. I was self-employed in 2019 and made about $2,000, and I have a bunch of 1099s from bank "bonuses" and interest from savings, so I plan to file a full 2019 tax return before the deadline in July.
For the time being though, I am just wondering if it's okay to get my direct deposit info to the IRS using this "new tool:" https://www.irs.gov/coronavirus/non-fi[product key removed]nt-info-here
and then later on in June or July I can file my 2019 tax return that includes my self-employed income?
I cannot find a direct answer to this question anywhere else. I'm sure I'm not the only one who is wondering.
5 Replies
Anonymous
Not applicable

Can we use the IRS "direct deposit tool" if we were self-employed?

I don't know  i will add that this is the website

https://www.irs.gov/coronavirus/economic-impact-payments

 

you shouldn't be using the non-filer section becuase you are required to file for 2019 amd maybe even 2018

if you use the other section for filers and the IRS sees that there are 1099's on record for you since you haven't filed for 2018 or 2019, don't know if the IRS will release the stinulus check or if the IRS might take other action. . 

Anonymous
Not applicable

Can we use the IRS "direct deposit tool" if we were self-employed?

 
bighardd
Returning Member

Can we use the IRS "direct deposit tool" if we were self-employed?

Wait I'm confused..

 

@Anonymous 

 

By "1099s" I just simply mean 1099-INT for interest and "bank bonuses" that I earned in 2019. I don't have any 1099-MISC for self-employed work. Actually, I have no records for my self-employed work but that's a different discussion.

 

Because my total income was less than $10,000 last year.. My understanding is that the main reason why I need to file is because I made over $400 being self-employed..

 

But say for example, if I did not have self-employed income.. and only had the 1099-INT from bank account interest, "bank bonuses," and investment dividends then I would NOT be required to file since my income was less than 10k. Just trying to see if I understand the basics here. That's why I am asking this hypothetical question.

 

Thanks for any replies!

bighardd
Returning Member

Can we use the IRS "direct deposit tool" if we were self-employed?

hoping someone can clarify

ThomasM125
Expert Alumni

Can we use the IRS "direct deposit tool" if we were self-employed?

If you're not required to file in 2019, then you can use the tool to register for the stimulus check.

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