IRS issues deadline to provide information receipt of Economic Impact Payment
By Michael D’Addio, Principal, Tax & Business Services
The IRS has issued a release urging people to use the Get My Payment site by noon Wednesday, May 13, to get a quicker refund of their Economic Impact Payment (EIP).
This will allow those who have filed tax returns for 2018 or 2019 that did not provide bank deposit information to enter or correct the data which IRS has on file in order to receive direct deposit of their EIP. After that time, the IRS will begin preparing millions of files to send to the Bureau of Fiscal Services (BFS) for paper checks to be mailed through late May and into June.
Automatic EIP payments will also be sent to those receiving Social Security retirement, disability benefits, Railroad Retirement benefits, Veterans Affairs benefits or Supplemental Security Income to the accounts to which these payments are sent.
Remember that those who were not required to file a return for 2018 and 2019 can use the Non-Filer Portal on the IRS website to enter “simplified return” data so that their payments can be processed. This includes direct deposit information.
If you have any questions, contact your Marcum tax professional or contact Michael D’Addio at 203.781.9665 or email Michael.
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