Official COVID-19 (Coronavirus) stimulus payment thread

[crzymom137]

Same here!

[JohnB5677]

Yes you will have to file even if you have no income.

These links may help explain and guide you through the process.

https://turbotax.intuit.com/stimulus-check/ link to stimulus registration (SR).  It is very important that you uses this link that says register now if you don't need to file taxes this year.  Otherwise, you will not be able to E-file a zero return. It also has the calculator.

The IRS says it is working on developing a web-based system for people to give the government their direct-deposit information. Keep checking www.irs.gov/coronavirus for more details on this.

If you only want to change your Direct Deposit Information

The Treasury is expected to shortly announce an online portal where direct deposit information can be supplied to the IRS. Here is what you should do: 

Go to  http://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know to see if they have set up the online portal. (This article will be updated with the web address once it’s available.)

[Lynng11]

Hi, I have a question. So I just turned 25 years old March 3, 2020. When I did my taxes I was 24 years old, I am not a full-time student, I do work a full-time job and my AGI was about $17,100. My mom claimed me as a dependent on her income tax and I forgot to take off that “I could be claimed by someone else” because that was my situation 2018 but not for 2019. I did put that I was single. So my question is will I get a stimulus check if I technically don’t qualify to be a dependent even though I was claimed as one? Thanks!!!

[crzymom137]

Thank you!

[Critter]

@Lynng11  

You will but not now ...   it will be on the 2020 return when you file next year.  

[JohnB5677]

Lynng11  If you filled a 20196 tax return that is the one the IRS will look at.  If you left it that you could be claimed as a dependent by someone else, you will not get a check.  If your Mom did not claim you, you can file an amended return.

If you've filed your return and need to add additional information, then you will have to prepare an amended return in TurboTax.  I suggest you wait at least 3 weeks before sending it to ensure that the IRS does not confuse the returns.  You have three years to file an amended return.

If you used TurboTax Online, simply log in to your account and select “Amend a return that was filed and accepted.” 

If you used our CD/download product, sign back into your return and select “Amend a filed return.” You must file a separate Form 1040X for each tax return you are amending.

Amend ONLINE    OR     Amend CD/Download       Amend 2016 - 2019

You will have to mail the amended return.  The IRS limits the system to only one Social Security number or Tax ID  to be E-Filed.  This is to guard against fraudulent tax returns.

[Hal_Al]

@Lynng11  

Q. Will I get a stimulus check if I technically don’t qualify to be a dependent even though I was claimed as one?

A.  No, not in 2020.  But, you will get the $1200 next year.  "In essence, the stimulus check acts as an advance of your 2020 income tax refund. This means when you prepare your 2020 income tax return, there will be a line to include the section 6428 credit. The credit on your 2020 return is subtracted by any amount received as a stimulus check in 2020. If the amount you received as a stimulus check is less than the credit you are due, the difference will be included as part of your 2020 refund. If you have been overpaid by receiving the stimulus check, however, you will not be required to return any excess amount".

But, the stimulus check, aside; your mom need to file an amended return, unclaiming you and the $500 other dependent credit.  She is not entitled to that.  The "magic age" is 24 (not 25).  She cannot claim you as a dependent for 2019, because you were over 23 and made more than $4200 of income.*

You should also file an amended return, claiming yourself.  Whether that results in you getting the stimulus check earlier, is not clear at this time.

*There are two types of dependents, "Qualifying Children"(QC) and standard ("Qualifying Relative" in IRS parlance even though they don't have to actually be related). There is no income limit for a QC but there is an age limit, student status, a relationship test and residence test. Only a QC qualifies a taxpayer for the Earned Income Credit.  

A person can still be a Qualifying relative dependent, if not a Qualifying Child, if he meets the 6 tests for claiming a dependent:

1. Closely Related OR live with the taxpayer ALL year   
2. His/her gross taxable income for the year must be less than $4200 ($4150 in 2018)
3. The taxpayer must have provided more than 1/2 his support

In either case:

4. He must be a US citizen or resident of the US, Canada or Mexico
5. He must not file a joint return with his spouse or be claiming a dependent of his own
6. He must not be the qualifying child of another taxpayer

[RBBrittain]

@JohnB5677 There is a more up-to-date IRS page on the stimulus payments: https://www.irs.gov/coronavirus/economic-impact-payment-information-center

[jhope929]

Hello, from what I have gathered and read up on they are saying that any taxes for 2019 or any back taxes owed will not affect you recieving your stimulus check. 

[Lynng11]

Thank you! I see that option to amend on the Turbo Tax app so that’s exactly what we’ll be doing. Thank you once again! 

[karentemail]

THanks, and well, the link https://turbotax.intuit.com/stimulus-check/does say "you don't have to file"...."Otherwise, if your income was under the cutoff for your situation, you don’t need to file a full tax return this year." So it seems if nothing changes with my information with IRS, then I don't have to do anything, right?

[VictoriaD75]

Correct. If you do not have a filing requirement, you do not need to file a return. Register at the link you entered above, and the IRS will have your updated information. Also, per the IRS:

In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

Follow the links for more information:

IRS Economic Impact Payments

IRS Coronavirus Tax Relief

TurboTax Corona Virus Tax Center Updates 

[jhope929]

If you have taxes to file do so...BUT if you don't they have already said it will not affect your stimulus check. 

[taxfile20]

Hello,

 I need help regarding a doubt I have wrt stimulus payment.

My spouse has filed 2019 return as Married filing separate and got the refund to bank ac. I have not yet filed my 2019 tax return. Now I am planning to file amended tax return 1040X as Married filing jointly to get about 2300$ stimulus check and also more refund. My question is:

1. I am not eligible for the covid check based on my 2018 income and my spouse will get 1200$ based on her 2019 tax return. Can I claim for higher stimulus payment of 2300$ later on based on our amended MFJ tax return.

2. Is it possible to e-file 1040 MFJ instead of mailing the amended tax return to get higher stimulus payment on Apr 15.

I would appreciate your input. Thanks for your time.

[VictoriaD75]

You cannot efile amended returns. They must be paper filed only.

If you have not yet filed your 2019 return, the IRS will defer to your 2018 filing. If you file jointly, the phaseout will be based on your joint income. It is not likely that the IRS would process your amended 2018 return prior to processing the stimulus payments. 

Any amounts due will be reconciled when you file your 2020 taxes. Therefore, if you filing jointly in 2020 and would have qualified for the joint stimulus payment, it will appear as an additional credit on your return. However, this will not occur until filing in 2021.

The following resources may be helpful:
 

What do I need to know about the coronavirus stimulus package?

IRS Coronavirus Tax Relief

TurboTax Corona Virus Tax Center Updates