LAFOLLETTE, TN. (WLAF)- Those looking for the Economic Impact Payments should start seeing them arrive this week for some. Many of the payments were processed on Saturday, according the Internal Revenue Services website.
These checks will be sent to people who filed taxes for 2018 and 2019. That means many of the people who are exempt from filing taxes could miss their payment if they don’t take action.
“If they don’t know about you, you are not going to get any money,” said Carol Hoskins, a local accountant.
For those who don’t routinely files taxes, they need to register so the IRS will know where to send their payments. By visiting HERE, people can determine if they are eligible for the stimulus payment. This site also allows an individual to update their information so the IRS will send the payment to the correct place.
“For those who filed taxes the last two years, the IRS will use the same method as used if you were due a refund,” Hoskins said. For example, if a taxpayer opted to receive their refund via a direct deposit, the stimulus check will be directed to the same bank account.
Eligible individuals with adjusted gross income up to $75,000 for single filers, $112,500 for head of household filers and $150,000 for married filing jointly are eligible for the full $1,200 for individuals and $2,400 married filing jointly. On top of that, they are eligible for an additional $500 per qualifying child, according to the IRS website.
An IRS tool entitled Get My Payment is expected to be launched this week. (WLAF NEWS PUBLISHED-04/14/2020- 6AM)