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relied on information from taxpayers’ 2018 and 2019 tax returns, but since in many cases the information was missing, out of date or incomplete, the IRS set up a portal where taxpayers could register their information.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.
Christina Robbins is director of strategic communications at Digitech Systems LLC with more than 20 years of information management marketing leadership experience.
Cole Winans is the CEO and founder of Flyreel, an AI solution for residential and commercial property insurance carriers. Winans is a self-taught technologist and entrepreneur that launched and sold his first technology business at age 14. Prior to Flyreel, Cole developed and deployed over 100 successful enterprise and consumer software products and applications. Cole’s expertise extends into Mobile Technology, Artificial Intelligence, Computer Vision and Cloud Application development.
Nate Brown is Vice President, Product Management for Firm Management at Wolters Kluwer Tax & Accounting North America responsible for the development and delivery of firm management solutions. Nate has been working directly with firms to transform their businesses from desktop to cloud-based solutions through product management, sales and consulting roles. He is a sought-after speaker and a coach for firms to improve workflow and data to support decision-making. Prior to joining Wolters Kluwer, Nate worked for a large regional CPA firm as well as held accounting roles at a Fortune 500 company.
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.
