eMack Tax Services

02/27/2024

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12/31/2021

FYI

IRS issues information letters to Advance Child Tax Credit recipients and recipients of the third round stimulus

The IRS announced today that they will begin sending informational letters to taxpayers who received advance child tax credit payments and/or the third round of economic stimulus payments in 2021. The IRS urges taxpayers receiving these letters to make sure they hold onto them to assist in the preparation of their 2021 tax returns.

TaxSlayer Pro strongly advises that our tax preparers wait to file tax returns for their clients who may have received either of these payments until they receive their letter to avoid having to amend returns after they have been filed.

01/10/2021

Ijs 💪🏿

It’s that time of the year.

Don’t feel like waiting in line? Get started early by downloading our Tax App and get ahead of the curve.

https://taxestogo.com/App/Download/0223

01/10/2021

It’s that time of the year.

Don’t feel like waiting in line? Get started early by downloading our Tax App and get ahead of the curve.

https://taxestogo.com/App/Download/0223

01/05/2021

SCHEDULE YOUR APPOINTMENT NOW. SCHEDULES ARE FILLING UP ALREADY.

04/15/2020

The IRS Get My Payment information tool (LINK BELOW) is now live on the IRS website. Taxpayers can use the Get My Payment site to check on the status of their Economic Impact Payment, confirm their payment type (direct deposit or mailed check), and add their direct deposit information if it has not already been provided to the IRS.

Taxpayers will not be able to update their mailing address using the Get My Payment site as the IRS had previously announced. Economic Stimulus Payments will be mailed to the address filed on the 2019 tax return. If a 2019 return has not been filed, the IRS will mail the payment to the taxpayer's address as filed on their 2018 tax return.

https://www.irs.gov/coronavirus/get-my-payment

Posted: 4/15/2020 10:37:44 AM

Use Get My Payment to get information about your payment status and payment type.

04/11/2020

Government Stimulus Status Update (April 10th, 2020):
Eligible Americans with routing and account numbers on file with the IRS have begun to receive stimulus payments from the U.S. Treasury. If you have direct deposit info on file but haven’t received a payment, it is most likely still being processed.

Today the IRS also rolled out a website that lets people who normally don't file taxes register for government stimulus payments.

If you are a U.S. citizen or permanent resident who made less than $12,200 (or $24,400 as a married couple), or otherwise didn’t file a federal income tax return in 2019, you can still apply for a stimulus payment by submitting a routing and account number to the IRS here.

https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

Finally, the IRS has announced that a second tool will be released on April 17th. It will allow people who filed a tax return in 2018 or 2019 to update their routing and account numbers to receive their stimulus payments electronically instead of by mail—which could take weeks.

Do I qualify for a stimulus payment?
If you filed a tax return in 2018 or 2019, then there is a good chance that you qualify.

The government is using past tax data to determine who qualifies—and how much they qualify for. If you declared less than $99,000 of income on your last tax return, or as a married couple declared a combined income of less than $198,000, then you are eligible for a stimulus payment.

If you didn’t file a tax return and made less than $12,200, or were otherwise not required to file in 2018 or 2019, then you probably still qualify. Visit this IRS web portal to find out if you qualify as a non-tax-filer. From there, you can submit your bank’s Routing and Account number to the IRS to receive your stimulus payment. You may also qualify via Social Security or railroad retirement benefits.

Steps to receive the Economic Impact Payment if you haven't filed a tax return for 2018 or 2019, and aren't receiving Social Security, SS Disability Income or Railroad Retirement benefits. This payment is also referred to as "stimulus checks" or "coronavirus relief."

04/04/2020

IRS Statement: Economic Stimulus Payments: What You Need to Know

WASHINGTON – The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. However, some seniors and others who typically do not file returns will need to submit a simple tax return to receive the stimulus payment.

Who is eligible for the economic impact payment?
Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.

Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples. Parents also receive $500 for each qualifying child.

How will the IRS know where to send my payment?
The vast majority of people do not need to take any action. The IRS will calculate and automatically send the economic impact payment to those eligible.

For people who have already filed their 2019 tax returns, the IRS will use this information to calculate the payment amount. For those who have not yet filed their return for 2019, the IRS will use information from their 2018 tax filing to calculate the payment. The economic impact payment will be deposited directly into the same banking account reflected on the return filed.

The IRS does not have my direct deposit information. What can I do?
In the coming weeks, Treasury plans to develop a web-based portal for individuals to provide their banking information to the IRS online, so that individuals can receive payments immediately as opposed to checks in the mail.

I am not typically required to file a tax return. Can I still receive my payment?
Yes. People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment. Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax.

How can I file the tax return needed to receive my economic impact payment?
IRS.gov/coronavirus will soon provide information instructing people in these groups on how to file a 2019 tax return with simple, but necessary, information including their filing status, number of dependents and direct deposit bank account information.

I have not filed my tax return for 2018 or 2019. Can I still receive an economic impact payment?
Yes. The IRS urges anyone with a tax filing obligation who has not yet filed a tax return for 2018 or 2019 to file as soon as they can to receive an economic impact payment. Taxpayers should include direct deposit banking information on the return.

I need to file a tax return. How long are the economic impact payments available?
For those concerned about visiting a tax professional or local community organization in person to get help with a tax return, these economic impact payments will be available throughout the rest of 2020.

Where can I get more information?
The IRS will post all key information on IRS.gov/coronavirus as soon as it becomes available.

The IRS has a reduced staff in many of its offices but remains committed to helping eligible individuals receive their payments expeditiously. Check for updated information on IRS.gov/coronavirus rather than calling IRS assistors who are helping process 2019 returns.

To explain the tax relief for those affected by coronavirus.

02/10/2020

Don’t feel like waiting in line? Get started early by downloading our app and signing up through app

https://taxestogo.com/App/Download/0223