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relied on information from taxpayers’ 2018 and 2019 tax returns, but since in many cases the information was missing, out of date or incomplete, the IRS set up a portal where taxpayers could register their information.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.
William Dunkelberg is professor emeritus of economics in the College of Liberal Arts, Temple University, where he served as dean of the School of Business and Management from 1987 through 1994 and as Director of the Center for the Advancement and Study of Entrepreneurship. He currently serves as chief economist for the National Federation of Independent Business. His prior appointments were at the Krannert Graduate School of Management, Purdue University, the Graduate School of Business, Stanford University and the Survey Research Center at the University of Michigan. He has BA, MA and Ph.D. degrees in economics from the University of Michigan. Dunkelberg is a nationally known authority on small business, entrepreneurship, consumer credit and government policy. He has appeared on CNBC, Bloomberg, Fox, CNN, MSNBC, the ABC, CBS and NBC Evening News programs, "Good Morning America" and numerous local news and business TV and radio shows. He is frequently quoted in major news publications including The Wall Street Journal, Forbes, Bloomberg Business Week, The New York Times, U.S. News & World Report and USA Today, and serves on the economic forecasting panels for USA Today and Bloomberg and as an economic advisor to ABC News. He is the author or co-author of numerous books and articles.
Scott Beeman joined Aflac as senior vice president; president of Premier Life, Absence and Disability Solutions (PLADS) in 2020, responsible for leading all aspects of Aflac’s PLADS business. With more than 20 years of leadership experience in the insurance and health care industry, Scott is a visionary with a proven track record of channeling his passion and creativity not only into driving revenue and profitable growth, but also into instituting scalable and sustainable infrastructures and leading the pace and progress of restructurings, product development, and organizational change management programs to realize growth and create new value.
Prior to joining Aflac, Scott was president and chief operating officer of Benefit Harbor Insurance Services, LLC. He also previously served as head of Business Strategy, Operations and IT for the Life, Disability and Absence Management program at Zurich, responsible for the creation of the overall strategic value proposition and execution of its life insurance and disability operations with emphasis on the growth of the group life insurance business. Prior to joining Zurich, Scott held numerous leadership positions with Aetna, including head of Life and Long Term Care Businesses and chief executive officer of Aetna Workforce Availability, where he successfully demonstrated the ability to launch and exponentially grow both new and well established businesses. Prior to joining Aetna, Scott held positions of increasing responsibility in various sectors of the health care industry. He previously co-founded his own company, specializing in Internet-based information systems for the high-tech medical equipment sector, which he successfully negotiated for sale in 2001.
Within his local community, Scott serves on the board of The Cove Center for Grieving Children. He holds a Bachelor of Science in health policy and management from Providence College in Rhode Island and earned a certificate of professional development in executive leadership from The Wharton School at the University of Pennsylvania.
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.
