Economic Impact Payment Update
The IRS has announced that the deadline to use the non-filers tool to obtain the Economic Impact Payments is October 15, 2020. Economic Impact Payment is the official name for the stimulus payments that were made available under the CARES Act to help compact the economic impact of COVID-19. The IRS has stated that most eligible U.S. tax payers should automatically receive their Economic Impact Payment. Those who should have automatically received their Economic Impact Payment include:
1) Individuals who filed a federal income tax for 2018 or 2019,
2) Those receiving Social Security retirement, disability, or survivor benefits,