Stimilus money

Yes, if you have not filed your 2019 tax return, the stimulus payment will default to your 2018 tax return. Currently, the IRS is not processing stimulus payments based on just having the 2018 tax return filed. I have several clients who made over the income thresholds for 2019 and do not qualify, but qualify based on the income from their 2018 tax return. So I am purposely holding off on filing the 2019 tax return until after they receive their stimulus payment.

 

After careful thought and a plain english article.. there is good news and bad news.

IRS is not taking 2019 returns now. So filing is futile. Pile them up into a mountain covering the IRS building in DC. Someone will go outside for a smoke and combust the whole thing.

If they did take it later this year and find that you busted income limits in 19, thats ok they will get that 1200 back in their pocket during the 2020 return filing. Remember the 1200 is a advance against 2020 taxes.

‘My son got a $1,200 stimulus payment he wasn’t entitled to. Is there any way to take back my 2019 IRS return?’ Answers to your stimulus check questions (Part 1)

 

The IRS is only processing electronically filed tax returns at this time. If you have to file a paper tax return for any reason, do not mail it in now because it will probably get lost. I can currently e-file tax returns from 2017, 2018, and 2019. Unfortunately, amended IRS tax returns have to be mailed, so do not send those in at this time.

 

i got $3400 on Wednesday

 

this is the talk now.

 

thats every month for 6 months

 

Wife and two kids, correct?

 

If you filed taxes and either OWED or filed thru H&R Block, Tax Slayer, Turbo Tax, etc... Some people are having issues. 3rd party tax places (Usually) get your money from the IRS; take out they're fee, then deposit the rest in your bank account. Problem with that is the IRS actually doesn't have your bank info.

Also, if you owed taxes, then it's pretty much the same way... Go the IRS(dot)gov and click on the payment status... If, going thru the steps, your asked to input bank info, then they do not have it and will now get it directly to you... But who knows when that might be.

 

I'm banking mine....just in case.

 

yea. i got a 3rd kid. but her mums claims her.