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relied on information from taxpayers’ 2018 and 2019 tax returns, but since in many cases the information was missing, out of date or incomplete, the IRS set up a portal where taxpayers could register their information.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.
David P. Meyer is the current president of PIABA and the managing principal of the law firm MeyerWilson.
As Vice President, Data Science in RGA Reinsurance Company's Global Research and Data Analytics department, Jeff Heaton works primarily with modeling risk for underwriting systems using electronic health records. In this role, Jeff's IT background allows him to bridge the gap between complex data science problems and proven software development. Jeff joined RGA in 2001 as a member of the Information Technology (IT) group to design and implement systems for retrocession administration and premium calculation, and transitioned to a data science role in 2013. He is a frequent speaker and author for organizations such as the Society of Actuaries (SOA), the Institute of Electrical and Electronics Engineers (IEEE), and for academic journals. Jeff has authored several books on artificial intelligence, and teaches a graduate course at Washington University in St. Louis on this subject. Jeff is a senior member of the IEEE and a Fellow of the Life Management Institute (FLMI). He holds a Master of Information Management (MIM) degree from Washington University in St. Louis and a Ph.D. in computer science from Nova Southeastern University.
Jaqui Wassenaar is Head of Digital Distribution, Ventures and Partnerships for RGA. Based in Amsterdam, Jaqui is responsible for establishing innovative distribution pathways that unlock new markets and growth for RGA clients and partners. Educated and trained as an actuary, Jaqui has served in senior marketing and strategic roles at RGA since 2008, focusing on Europe, Japan, and South Africa.
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.
