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relied on information from taxpayers’ 2018 and 2019 tax returns, but since in many cases the information was missing, out of date or incomplete, the IRS set up a portal where taxpayers could register their information.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.
Dax Craig is the co-founder, president, and chief executive officer of Valen Analytics, an advanced data and analytics provider for the property and casualty insurance industry. Valen leverages its large consortium data assets to help carriers price insurance policies more accurately and achieve lower loss ratios.Prior to founding Valen in 2004, Dax was founder and CEO of Xertex Technologies, a leading provider of antennas for Wi-Fi, in-building wireless, and telematics. He led the progress of the company from a concept he developed as an MBA student at the University of Colorado to its eventual acquisition by Centurion Wireless, now part of Laird plc. At the time of Xertex’s acquisition, Centurion was a global leader in the wireless antenna industry with over $150 million in annual revenue, seven factories, locations in five countries and over 1,500 employees.Dax proceeded to be vice president of global business development at Centurion, where he was directly responsible for global business development including sales, market definition, market segmentation, market research, strategic planning and market development.Believing in the importance of community involvement, Dax founded the Monticello Foundation, an organization of young professionals that raised money for Denver area children’s charities. He also founded Stay Tuned Colorado, a non-partisan organization that engaged young professionals to become more involved in the process of selecting national political leaders.He currently serves on the executive advisory board of the University of Tulsa’s College of Business and is a member of the Young Presidents Organization. Most recently, Dax was selected as a board member to the National Sports Center for the Disabled. Previously, he has served on the board of several community organizations including the Denver Opera and the Metro Denver Sports Commission.Dax graduated from the University of Tulsa with a bachelor’s degree in business administration and marketing. He earned his MBA in finance from the University of Colorado at Boulder.
Lauren Freedman is senior vice president of digital strategy at Astound Commerc
Kevin Murphy is president of the ISACA Scottish chapter and vice president of ISC2 (Scotland) and an internationally award-winning cyber security consultant. His previous cyber security experience includes eight years as a police officer, and then leading member of KPMG’s award winning cyber security team. Murphy has authored two books on training and development and now works for a global bank as a cyber security, risk and privacy specialist
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.
