Dear Friend,
My office and I have been receiving many calls and emails from Central Floridians regarding the economic impact payments that Congress and the President approved in the
CARES Act last month.
The IRS launched a new online portal—
Get Your Payment—where you can obtain information about the status of your payment and provide your banking information in a safe and secure manner so the IRS can make your payment via direct deposit. If you have not already established direct deposit with the IRS, I encourage you to do so as soon as possible to expedite your payment.
Our community—and our country—are facing turbulent times. I want to be as helpful as possible as we work together to overcome this crisis. I know this economic impact payment is important to you, and so I have provided answers to the most frequently asked questions our office receives on this topic. I hope you find this information useful.
How much will my economic impact payment be?
As you may recall, Congress authorized economic impact payments for every adult with a Social Security number who is not claimed as a dependent of another taxpayer. You will receive $1,200 per adult, plus an additional $500 for each qualifying child. These check amounts begin to phase out for individuals earning more than $75,000 ($150,000 for married workers) and stop altogether for individuals making more than $99,000 ($198,000 for married workers). The IRS will issue these payments based on your most recently filed tax return, 2018 or 2019. You are still eligible to receive the payment even if you have not filed a tax return in the past or are not required to file a return, such as those who receive Supplemental Security Income (SSI) or veterans benefits. These payments will be made automatically.
How will I get my impact payment?
Most Americans who file electronically using direct deposit should receive their economic impact payment via direct deposit. Additionally, Social Security and Railroad Retirement recipients who are not typically required to file a tax return need to take no action. The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate Economic Impact Payments of $1,200 to these individuals even if they did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits. The Treasury Department will make automatic payments to SSI recipients, who will generally receive the automatic payments by direct deposit, Direct Express debit card, or by paper check, just as they would normally receive their SSI benefits. Treasury and the IRS initially estimated there would be 171 million rebate payments under the CARES Act and 101 million of these payments would be paid by paper check unless the IRS receives direct deposit information for these payments before a paper check is mailed.
When can I expect my impact payment?
Automatic payments are already going out this week via direct deposit, with the first few waves prioritizing low-income Americans and Social Security beneficiaries. SSI recipients will start to receive payments no later than early May. Paper checks are currently scheduled to start April 24 at a rate of about 5 million per week, which could take up to 20 weeks to get all the checks out. However, according to multiple news outlets, these checks might be delayed as President Trump is demanding that his name be placed on the checks.
Who should use the “Get Your Payment” tool?
Click here to access the
Get Your Payment tool. Anyone that files a tax return can use this tool to:
- Check your payment status
- Confirm your payment type: direct deposit or check
- Enter your bank account information for direct deposit if the IRS doesn’t have your direct deposit information and the IRS hasn't sent your payment yet
What if I don’t normally file a tax return or I am not required to?
This does NOT apply to anyone who receives SSI, Social Security, disability, survivor or Railroad Retirement and survivor benefits and does not have dependent children.
If you don’t file taxes, you can use a different tool so you can get your payment.
Click here to access it. You should use this tool if:
- You did not file a 2018 or 2019 federal income tax return because your gross income was under $12,200 ($24,400 for married couples). This includes people who had no income.
- You weren’t required to file a 2018 or 2019 federal income tax return for other reasons.
- You receive Social Security retirement or disability benefits (SSDI), Railroad Retirement benefits or SSI and did not file a tax return for 2018 or 2019 and have qualifying children under age 17.
- You are a new beneficiary since January 1, 2020, of either Social Security or SSI benefits, who did not file a tax return for 2018 or 2019.
If you have any questions about your economic impact payment, please call my office Monday through Friday from 9 a.m. to 5 p.m. at 888-205-5421 and we will be glad to assist you.
Sincerely,
Stephanie Murphy
Member of Congress