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relied on information from taxpayers’ 2018 and 2019 tax returns, but since in many cases the information was missing, out of date or incomplete, the IRS set up a portal where taxpayers could register their information.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.
Rich Paul leads Deloitte & Touche LLP’s Consumer Industry U.S. Audit & Assurance practice.
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Craig Carpenter is the chief executive officer at X1. Craig has 20 years of experience as a CEO, COO, CRO, CMO and general counsel in the eDiscovery, compliance and cybersecurity spaces.
Prior to X1, Craig was the CEO of Fronteo (NASDAQ: FTEO), before which he was SVP of sales at Kroll Ontrack until its acquisition by the Carlyle Group. Prior to Kroll Ontrack, Craig was CMO and then COO at AccessData, before which Craig spent seven years as the VP of marketing and business development and general counsel at Recommind prior to its acquisition by Open Text (NASDAQ: OTEX). Before Recommind, Craig ran global marketing and channel teams at Fortinet (NASDAQ: FTNT) prior to its IPO and at Mirapoint prior to its acquisition by Openwave (NASDAQ:SNCR).
Craig began his career as a practicing attorney at Ropers, Majeski, Kohn & Bentley in Silicon Valley. Craig has a JD and MBA from Santa Clara University and BAs in Political Science and History from UCLA where he played football and rowed crew.
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.
