Eligible individuals also will be able to use the tool to provide their bank account information so they can receive their payments more quickly rather than waiting for a paper check.
Coronavirus: Complete Coverage by the Dayton Daily News
The IRS on Saturday said it started depositing the first economic impact payments into taxpayers’ bank accounts
“We know many people are anxious to get their payments,” the IRS said on Twitter. “We’ll continue issuing them as fast as we can.”
Additionally, IRS recently rolled out a new online tool to allow people who do not typically file tax returns to provide their information to the federal government to receive stimulus payments.
The tool, which can be found at the IRS website (www.irs.gov), launched just days before the first economic impact payments (also called stimulus payments) will begin arriving in people’s bank accounts.
“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 in a prepared statement.
The IRS says most economic impact payments will be distributed automatically to most people. The payments will be up to $1,200 for individuals and $500 for qualifying children.
Some Ohioans were not required to file federal tax returns in 2018 or 2019 because they had low or no incomes.
Individuals making less than $12,200 and married couples with incomes below $24,000 weren’t required to submit returns.
But these Ohioans, called non-filers, need to submit information to the IRS to get an economic impact payment.
The new non-filer tool only takes a few minutes to use and asks for basic information including Social Security number, name, address and dependents, the IRS says.
This information will confirm eligibility and will be used to calculate and send out stimulus payments, the agency said.
“Using the tool to get your payment will not result in any taxes being owed,” the IRS said. “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.”
About the Author
