Working with the Treasury Department, the Internal Revenue Service unveiled the new âGet My Paymentâ with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information. With an initial round of more than 80 million Economic Impact Payments starting to hit bank accounts over the weekend and throughout this week, this new tool will help address key common questions. âGet My Paymentâ will show the projected date when a deposit has been scheduled, similar to the âWhereâs My Refund toolâ many taxpayers are already familiar with. âGet My Paymentâ also allows people a chance to provide their bank information. People who did not use direct deposit on their last tax return will be able to input information to receive the payment by direct deposit into their bank account, expediting receipt. #placement_573654_0_i{width:100%;max-width:550px;margin:0 auto;}var rnd = window.rnd || Math.floor(Math.random()*10e6);var pid573654 = window.pid573654 || rnd;var plc573654 = window.plc573654 || 0;var abkw = window.abkw || '';var absrc = 'https://ads.empowerlocal.co/adserve/;ID=181918;size=0x0;setID=573654;type=js;sw='+screen.width+';sh='+screen.height+';spr='+window.devicePixelRatio+';kw='+abkw+';pid='+pid573654+';place='+(plc573654++)+';rnd='+rnd+';click=CLICK_MACRO_PLACEHOLDER';var _absrc = absrc.split("type=js"); absrc = _absrc[0] + 'type=js;referrer=' + encodeURIComponent(document.location.href) + _absrc[1];document.write('');ââGet My Paymentâ will offer people with a quick and easy way to find the status of their payment and, where possible, provide their bank account information if we donât already have it,â said IRS Commissioner Chuck Rettig. âOur IRS employees have been working non-stop on the Economic Impact Payments to help taxpayers in need. In addition to successfully generating payments to more than 80 million people, IRS teams throughout the country proudly worked long days and weekends to quickly deliver Get My Payment ahead of schedule.â âGet My Paymentâ is updated once daily, usually overnight. The IRS urges taxpayers to only use Get My Payment once a day given the large number of people receiving Economic Impact Payments. How to use âGet My Paymentâ Available only on IRS.gov, the online application is safe and secure to use. Taxpayers only need a few pieces of information to quickly obtain the status of their payment and, where needed, provide their bank account information. Having a copy of their most recent tax return can help speed the process. For taxpayers to track the status of their payment, this feature will show taxpayers the payment amount, a scheduled delivery date by direct deposit or paper check and if a payment hasnât been scheduled. They will need to enter basic information including: ⢠Social Security number ⢠Date of birth, and ⢠Mailing address used on their tax return. Taxpayers needing to add their bank account information to speed receipt of their payment will also need to provide the following additional information: ⢠Their Adjusted Gross Income from their most recent tax return submitted, either 2019 or 2018 ⢠The refund or amount owed from their latest filed tax return ⢠Bank account type, account and routing numbers âGet My Paymentâ cannot update bank account information after an Economic Impact Payment has been scheduled for delivery. To help protect against potential fraud, the tool also does not allow people to change bank account information already on file with the IRS. A Spanish version of âGet My Paymentâ is expected in a few weeks. No action needed by most taxpayers Eligible taxpayers who filed tax returns for 2019 or 2018 will receive the payments automatically. Automatic payments will also go soon to those receiving Social Security retirement, or disability (SSDI), or survivor benefits and Railroad Retirement benefits. General information about the Economic Impact Payments is available on a special section of IRS.gov: www.irs.gov/coronavirus/economic-impact-payment-information-center. googletag.cmd.push(function() { googletag.display('ad-1515727'); });
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IRS unveils online help with Economic Impact Payments
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April 21, 2020 at 08:41 PM
3 min read
7 years ago
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Article Details
Published April 21, 2020 at 08:41 PM
Reading Time 3 min
Category general