The Internal Revenue Service is giving taxpayers more time until Nov. 21 to register their dependents for the $500 per child Economic Impact Payments provided under the CARES Act.
The IRS said Monday that it’s extending the time to give people who were unable to provide their information earlier. Under the CARES Act that was passed by Congress in March in response to the economic fallout from the novel coronavirus pandemic, the IRS sent out $1,200 to each taxpayer, plus an additional $500 per child. It originally relied on information from taxpayers’ 2018 and 2019 tax returns, but since in many cases the information was missing, out of date or incomplete, the IRS set up a portal where taxpayers could register their information.
An estimated 9 million people haven't yet received an Economic Impact Payment. The IRS needs to send out the stimulus by the end of the year. It is extending the timeline for registering until 3:00 p.m. ET on Nov 21. The deadline had been Sept. 30 until the latest extension.
Lynne Doughtie is U.S. chairman and CEO of KPMG LLP. She also is a member of KPMG’s Global Board and Executive Committee. From 2011 to 2015, Lynne served as vice chair of KPMG’s Advisory business, establishing Advisory as the firm’s fastest growing business. She also oversaw the expansion of KPMG’s capabilities in innovative services and solutions, including information security, strategy, digital/mobile, and transformation. Lynne began her career in KPMG’s Audit practice in 1985 and has served in a number of national, regional, and global leadership roles, including lead partner for several of KPMG’s major clients. Lynne is a governing board member for the Center for Audit Quality and a member of The Committee of 200. She also serves as a board member for NAF, the Partnership for New York City, and LUNGevity.
Alexandre Bilger is president and chief executive officer at Sinequa. With over eighteen years of experience as a top executive within enterprise software, Alexandre has a proven ability to build and lead high performing organizations. In addition of being a thought leader, he is passionate about cutting edge technologies i.e. artificial intelligence, machine learning, cognitive computing and NLP. Prior being appointed CEO of Sinequa, Alexandre co-founded and was chief technology officer at E-Front, a data-processing software vendor specializing in the financial industries. He started his career as a lead architect at NAT System, a leading client server development tools vendor.
Gediminas Ziemelis is chairman of the board of Avia Solutions Group.
Following recent IRS programming updates, anyone who registers using the Non-Filers: Enter Info Here before the 3 p.m. Eastern Nov. 21 extended due date will receive an Economic Impact Payment, if they’re eligible. That includes federal beneficiaries who already received an EIP but didn’t receive a supplemental $500 payment for qualifying children.
The additional time will enable them to enter the information on their qualifying children using the Non-Filers tool on IRS.gov.
Those who are eligible to provide this information include people with qualifying children who receive Social Security retirement, survivor or disability benefits, Supplemental Security Income (SSI), Railroad Retirement benefits and Veterans Affairs Compensation and Pension (C&P) benefits and did not file a tax return in 2018 or 2019.
The IRS is also encouraging anybody who didn’t have a requirement to file a tax return in 2018 or 2019 to register for an Economic Impact Payment by using the Non-Filers tool before the Nov. 21 deadline. The IRS originally didn’t have information on many of these taxpayers, so it was unable to send them the initial round of stimulus payments.
The IRS is encouraging people to choose direct deposit to receive their payments, as it will speed up processing when using the Non-Filers tool. Those who don’t choose this option will get a check in the mail instead. Starting two weeks after they register, people can track the status of their stimulus payments using the Get My Payment tool, accessible from IRS.gov.
