Thrive Tax & Advisory, A Professional Corporation

Thrive Tax & Advisory, A Professional Corporation Contact information, map and directions, contact form, opening hours, services, ratings, photos, videos and announcements from Thrive Tax & Advisory, A Professional Corporation, Tax preparation service, 1050 West Lakes Drive Suite 225, West Covina, CA.

Thrive Tax & Advisory, A Professional Corporation provides a wide range of services in taxes, accounting, and consultation to individuals and businesses in a variety of industries.

04/12/2020

The latest IRS news - IRS just released a tweet today " " deposited the first Economic Impact Payments into taxpayers' bank accounts today. We know many people are anxious to get their payments; we'll continue issuing them as fast as we can," the IRS wrote Saturday evening on Twitter.

The IRS sent out the first wave of stimulus checks to Americans on Saturday.

IRS said the deposits will continue in the days ahead, starting with people who have filed tax returns for 2018 or 2019 and authorized direct deposits. Meanwhile, the IRS expects to start issuing paper checks on the week of May 4, according to the House Democratic memo. The paper checks will be issued at a rate of about $5 million per week, with prioritizing individuals with the lowest income, based on adjusted gross income.

Find out more details on our blog on our website -

Take a look at our Blog page. Thrive Tax & Advisory is a full service tax, accounting and business consulting firm located in Southern CA, Los Angeles

04/11/2020

The latest IRS News - details are available on my blog website: https://www.thrivetaxadvisory.com/blog.php

IRS just launched a new tool to help non-filers register for Economic Impact Payments (Stimulus Payments). The link is available in the IRS website https://www.irs.gov/coro…/non-filers-enter-payment-info-here

In addition, coming next week: IRS will start direct deposit the stimulus payments to eligible taxpayers who filed tax returns for either 2019 or 2018 and chose direct deposit of their refunds.

Coming next week - IRS will launch the "Get My Payment" tool by April 17, 2020, to provide people with the status of their stimulus payments, including to provide taxpayers with the date their payment is scheduled to be deposited into their bank account or mailed to them.

An additional feature on the "Get My Payment" tool will also allow eligible people a chance to provide their bank account information so they can receive their payment more quickly rather than waiting for a paper check. This feature will be unavailable if the Economic Impact Payment has already been scheduled for delivery.

Take a look at our Blog page. Thrive Tax & Advisory is a full service tax, accounting and business consulting firm located in Southern CA, Los Angeles

Issue Number:    IR-2020-69Inside This IssueTreasury, IRS launch new tool to help non-filers register for Economic Impac...
04/11/2020

Issue Number: IR-2020-69
Inside This Issue
Treasury, IRS launch new tool to help non-filers register for Economic Impact Payments

IRS.gov feature helps people who normally don’t file get payments; second tool next week provides taxpayers with payment delivery date and provide direct deposit information

WASHINGTON – To help millions of people, the Treasury Department and the Internal Revenue Service today launched a new web tool allowing quick registration for Economic Impact Payments for those who don’t normally file a tax return.

The non-filer tool, developed in partnership between the IRS and the Free File Alliance, provides a free and easy option designed for people who don’t have a return filing obligation, including those with too little income to file. The feature is available only on IRS.gov, and users should look for Non-filers: Enter Payment Info Here to take them directly to the tool.

“People who don’t have a return filing obligation can use this tool to give us basic information so they can receive their Economic Impact Payments as soon as possible,” said IRS Commissioner Chuck Rettig. “The IRS and Free File Alliance have been working around the clock to deliver this new tool to help people.”

The IRS reminds taxpayers that Economic Impact Payments will be distributed automatically to most people starting next week. Eligible taxpayers who filed tax returns for 2019 or 2018 will receive the payments automatically. Automatic payments will also go in the near future to those receiving Social Security retirement or disability benefits and Railroad Retirement benefits.

How do I use the Non-Filers: Enter Payment Info tool?
For those who don’t normally file a tax return, the process is simple and only takes a few minutes to complete. First, visit IRS.gov, and look for “Non-Filers: Enter Payment Info Here.” Then provide basic information including Social Security number, name, address, and dependents. The IRS will use this information to confirm eligibility and calculate and send an Economic Impact Payment. Using the tool to get your payment will not result in any taxes being owed. Entering bank or financial account information will allow the IRS to deposit your payment directly in your account. Otherwise, your payment will be mailed to you.

“Non-Filers: Enter Payment Info” is secure, and the information entered will be safe. The tool is based on Free File Fillable Forms, part of the Free File Alliance’s offerings of free products on IRS.gov.

Who should use the Non-Filers tool?
This new tool is designed for people who did not file a tax return for 2018 or 2019 and who don’t receive Social Security retirement or disability benefits or Railroad Retirement benefits. Others who should consider the Non-Filers tool as an option, include:

Lower income: Among those who could use Non-Filers: Enter Payment Info tool are those who haven’t filed a 2018 or 2019 return because they are under the normal income limits for filing a tax return. This may include single filers who made under $12,200 and married couples making less than $24,400 in 2019.

Veterans beneficiaries and Supplemental Security Income (SSI) recipients: The IRS continues to explore ways to see if Economic Impact Payments can be made automatically to SSI recipients and those who receive veterans disability compensation, pension or survivor benefits from the Department of Veterans Affairs and who did not file a tax return for the 2018 or 2019 tax years. People in these groups can either use Non-Filers: Enter Payment Info option now or wait as the IRS continues to review automatic payment options to simplify delivery for these groups.

Social Security, SSDI and Railroad Retirement beneficiaries with qualifying dependents: These groups will automatically receive $1,200 Economic Impact Payments. People in this group who have qualifying children under age 17 may use Non-Filers: Enter Payment Info to claim the $500 payment per child.

Students and others: If someone else claimed you on their tax return, you will not be eligible for the Economic Impact Payment or using the Non-Filer tool.

Coming next week: Automatic payments begin
Eligible taxpayers who filed tax returns for either 2019 or 2018 and chose direct deposit of their refund will automatically receive an Economic Impact Payment of up to $1,200 for individuals or $2,400 for married couples and $500 for each qualifying child. Individuals who receive Social Security retirement or disability benefits, SSDI or who receive Railroad Retirement benefits but did not file a return for 2019 or 2018 will automatically receive a payment in the near future.

Coming next week: Get My Payment shows Economic Impact Payment date, helps with direct deposit
To help everyone check on the status of their payments, the IRS is building a second new tool expected to be available for use by April 17. Get My Payment will provide people with the status of their payment, including the date their payment is scheduled to be deposited into their bank account or mailed to them.

An additional feature on Get My Payment will allow eligible people a chance to provide their bank account information so they can receive their payment more quickly rather than waiting for a paper check. This feature will be unavailable if the Economic Impact Payment has already been scheduled for delivery.

More Information on Economic Impact Payments
The IRS will post additional updates on IRS.gov/coronavirus on these and other issues.

We are offering help for taxpayers, businesses, tax-exempt organizations and others – including health plans – affected by coronavirus (COVID-19).

Latest news - FTB will conform with IRS tax filing by extending the 2019 tax filing to July 15, 2020.
03/23/2020

Latest news - FTB will conform with IRS tax filing by extending the 2019 tax filing to July 15, 2020.

State Postpones Tax Deadlines Until July 15 Due to the COVID-19 Pandemic

IRS Warns Taxpayers Of Two New Tax Scams
08/06/2019

IRS Warns Taxpayers Of Two New Tax Scams

Take a look at our Blog page. Thrive Tax & Advisory is a full service tax, accounting and business consulting firm located in Southern CA, Los Angeles

Address

1050 West Lakes Drive Suite 225
West Covina, CA
91790

Opening Hours

Monday 9am - 5:30pm
Tuesday 9am - 5:30pm
Wednesday 9am - 5:30pm
Thursday 9am - 5:30pm
Friday 9am - 5:30pm

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