fbpx

All you need to know about the Economic Impact Payments – “Stimulus Check”

Apr 17, 2020 | IRS - Internal Revenue Service, US Tax Return 1040 / 1040NR | 20 comments

Who Is Eligible and How Much Will You Get?

You are eligible if you are US citizen and US residents Aliens with a valid SSN, could not be claimed as a dependent of another taxpayer and had Adjusted Gross Income (AGI) under certain limits. It does not matter where you live or your filing status.

All US Citizens and US Residents Aliens will automatically receive up to $1,200 and married couples $2,400, plus an additional $500 for each child. The size of a check would diminish gradually for those whose income is above $75,000, while individuals earning more than $99,000 and couples earning more than $198,000 will not be getting any checks. The checks will be based on a household or individual’s 2018 tax return unless they filed their 2019 tax return, in which case it will be based of their 2019 return.

The rebate check for individuals would shrink by $5 for every $100 earned over $75,000. For couples who filed jointly, the reduction would start once they earn more than $150,000; for heads of household, at $112,500. Individuals who earned more than $99,000 and couples who earned more than $198,000 jointly would not receive checks. The check you receive is just an advanced payment of a tax credit for the 2020 tax year. It won’t be included in your taxable income.

If you are receiving Social Security Benefits but did not file taxes in 2018 or 2019, you would be eligible to receive a stimulus check without a tax return based on data available to the IRS from your annual Social Security benefits statement. The government would send you a check using the information from your Form SSA-1099 Social Security Benefit Statement. You would not have to file a 2019 tax return to get a stimulus check.

What can you do if you are a Non-Filer?

All those who had gross income that did not exceed $12,200 ($24,400 for married couples) for 2019, and were not otherwise required to file a federal income tax return for 2019, and didn’t plan to, can benefit from the Economic Impact Payment by providing the necessary information to the IRS easily and quickly for free through Non-Filers: Enter Payment Info. The IRS will use this information to determine your eligibility and payment amount and send you an Economic Impact Payment. After providing this information you will not need to take any additional action.

Update your bank account or mailing address to receive the Direct Deposit or the “Stimulus Check”

The IRS is committed to helping you get your Economic Impact Payment as soon as possible. The payments are automatic for most taxpayers and the IRS have started with the Direct Deposit last April 14th. No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees.

If you need to check your payment status, or confirm your payment type: direct deposit or check or enter your bank account information for direct deposit if the IRS don’t have your direct deposit information and they have not sent your payment yet, you can always use the  Get My Payment application from the IRS website.

If we do not have your direct deposit information from your 2018 or 2019 Return, use the Get My Payment application to let the IRS know where to send your direct deposit.

For 2019 Filers, the IRS will send your payment using the information you provided with your 2019 tax return. You will not be able to change it. If you are a 2018 Filer, and you need to change your account information or mailing address, file your 2019 taxes electronically as soon as possible. That is the only way to let the IRS know your new information.

If you need any further information, please do not hesitate to contact us at Info@ustaxconsultants.es

Now in Portugal: Sitio do Alportel 32A, Sao Bras de Alportel, Algarve 8150-014

20 Comments

  1. Maria F Mendes

    Isso é valido para quem recebe pensão dos Estados Unidos

    Reply
    • Antonio Rodriguez

      Isso é válido para todos os cidadãos dos EUA que apresentaram a declaração de imposto de renda dos EUA em 2018 e, se você recebeu os benefícios de seguridade social dos EUA, receberá o cheque mesmo que não tenha feito a solicitação.

      Reply
    • Diego Sierra Hogan

      Hola Antonio!
      Soy uno de los hijos de Donna Sierra, como sabrás el año pasado regularizamos tanto 1040 form como FBAR. Hoy mismo estoy en contacto con vosotros para el 1050 del 2019. Nosotros también estaríamos a este cheque? Entiendo que al no tener nuestra cuenta bancaria sería via correo? Un saludo.

      Reply
      • Antonio Rodriguez

        Maria, es correcto! todos los ciudadanos norteamericanos y los residentes en USA con SSN válido recibirán el cheque, tarde o temprano.

        Reply
  2. Teresa medeiros

    I lived in America for 40 years then moved to my country which is Portugal I worked in a America and did my taxes every year I had my own business cleaning houses am I able for the check?

    Reply
    • Antonio Rodriguez

      Yes, you will get the check if you have filed the 1040 in 2019 or at least in 2018.

      Reply
  3. Jill Coleman

    Is this Dennis? Must be in Sao Bras…well, I have tried filing the form to the IRS –for nonfilers–to receive my check. I’m on social security now. I can’t fill in my phone number, and I don’t know how to get a “routing number” for the bank. As a result the form won’t let me continue. Can you give me any assistance? Thanks Neva (Jill) Coleman 969085460

    Reply
    • gflynn1216@gmail.com

      Hi, the routing numbers on checking account are the first set of numbers follow by the account numbers. If your Social Security is deposited into a savings account, just call the bank for that information. Hope this help. If you get Social Security from the USA. You will automatically receive the $1200.person and $2400. Per couple. You don’t have to do anything.It will be deposited into the account that your Social Security pension is paid it to.

      Reply
      • Antonio Rodriguez

        Jill,
        If you get SS Benefits you will get the check sometime in the close future… You do not have to do anything unless you want to change the account number for the direct deposit or you address to receive you check.
        Antonio

        Reply
  4. Mnuell.Bernardo

    Sou cidadão Americano.Não faço declaração de imposto porque a minha reforma não abrange a dita declaração. Posso eu ter esse check?

    Reply
    • Antonio Rodriguez

      Se você receber os benefícios do Seguro Social dos EUA, receberá $ 1.200 ou em cheque ou diretamente na sua conta bancária. Se você receber outro tipo de pensão, deverá acessar o site do IRS para non-filers e inserir suas informações.

      Reply
  5. Antonio Rodriguez

    Jill, I know that ACA (American Citizens Abroad) has reported that same problem to different people and the IRS and they are working to solve all those challenges that Expats are having to change the bank account number or their Foreign Address. I will post something in the blog later on with the last news on this issue.

    Reply
  6. Victoria Engebretson

    Hello. The IRS has sent me a paper check but their website won’t tell me to where. My last income tax return lists my Madrid address as I’ve been a resident for 1 1/2 years (before that I lived in St. Paul, MN, U.S.)

    I’ve found nothing online about the question I have. Does the IRS mail to Spain, or will the check go to my old address?

    Thanks

    Reply
    • Antonio Rodriguez

      Yes, you will get the check in the last address the IRS has from you.

      Reply
  7. Angeles casanovas Aledo

    I’m leaving in Spain now, can I still get the stimulus check?

    Reply
    • Antonio Rodriguez

      Angeles, if you are US Citizen, you will get the check as long as you file your taxes regularly.

      Reply
  8. Javier

    Hello!

    I live in Spain: The “Get my Payment” website shows “We scheduled your check to be mailed on May 22, 2020 to the address we have on file for you.

    We will mail you a letter with additional information on this payment.”

    Will there be any further updates in the website (i.e., confirmation that the check has in fact been sent?), or at this point there is nothing to do but wait until it arrives in the mailbox? How long would it take to Spain?

    Thanks!!

    Reply
    • Antonio Rodriguez

      Javier, We have no idea if the IRS will change the information of the website wit further updates, what is sure is that as per IRS policy, they will NEVER contact taxpayers either by telephone or email. At this point there is nothing more you can do… just wait… our experience tell us that letter from the IRS to Spain usually takes around one month, so you should not expect the check before the end of June.

      Reply
  9. Jordan adeel Piedra ulacia

    Hola buenas noches, en el caso mio siendo ciudadano americano y estando en españa es posible recivir o cambiar el cheque de USA en España

    Reply
    • Antonio Rodriguez

      Se supone que cualquier banco debería aceptarlo, aunque te cobre gastos de administracion y tarde un mes en ingresártelo en tu cuenta. Si en tu banco no lo aceptan deberías decirles que tiene que hablar con su departamento de extranjero.

      Reply

Submit a Comment

Your email address will not be published. Required fields are marked *