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relied on information from taxpayers’ 2018 and 2019 tax returns, but since in many cases the information was missing, out of date or incomplete, the IRS set up a portal where taxpayers could register their information.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.
Thomas A. Cox is a founder of and the Volunteer Program Coordinator for the Maine Attorney Saving Homes program
Heather Turner supports SMA's advisory and consulting engagements through rich written content, quantitative and qualitative primary research, market and technology trend analysis, and the management of SMA IP materials. Prior to SMA, Heather was managing editor of the NU Property & Casualty Group at ALM, which includes the insurance industry publications PropertyCasualty360.com and NU P&C and Claims magazines. She started her career as a journalist reporting on the property & casualty insurance industry at Insurance Business America and its sister publications in Canada and the U.K.
Heather is a graduate of Florida State University, where she earned her bachelor's degree in Editing, Writing, and Media.
Vijay Mahendrakar is head of Insurance Business Solution, Europe at Mphasis. Vijay helps brokers and insurers to successfully implement digital and data technology, transform their operation enabling business to be truly customer centric, digital first, data driven business and grow profitably. Vijay has 25+ years of experience with global BFSI customers, he brings unique expertise at intersection of Insurance business domain, legacy technology modernization, building cloud native platforms, monetizing data as an asset and transform operation ways of working. Similarly working with Mphasis, a global technology company, he brings rich expertise across business development, large transformation deal solution design and capture, consulting, and successful delivery of complex change programs.
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.
