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Non-Filers: The Final EIP Deadline of 2020 is November 21, 2020!

The weekend is normally a time for recharging our batteries and reconnecting with family—or, let’s be real, scrambling to finish your weekly to-do list. This week’s blog is taking a detour from security content to highlight a very timely announcement from the Internal Revenue Service: 3:00 p.m. this Saturday, November 21, is the final deadline for non-filers to register for a non-taxable Economic Impact Payment in 2020.

Who still needs to register for an Economic Impact Payment?

The non-filers specifically addressed by this announcement are those who are not normally required to file a federal income tax return and don’t receive certain federal benefits, “or certain benefit recipients who got an EIP for themselves but need to provide information about a non-beneficiary spouse or qualifying child.” The agency has also previously noted that this group can even include self-supporting college students who aren’t claimed as dependents.

Since the coronavirus pandemic has placed an enormous financial strain on millions of Americans, the IRS has been hard at work getting all qualifying individuals to register for their $1,200 payment.

How do non-filers register for an Economic Impact Payment?

“The only way remaining to get a payment in 2020 is to register using the Non-Filers: Enter Info Here tool on IRS.gov before the Saturday deadline,” explains the IRS. This restriction is a direct result of the very limited time remaining to register by the deadline, which has already been extended by the agency to help remaining non-filers get across the finish line.

To use the Non-Filers tool, registrants simply need to visit IRS.gov/Coronavirus/Non-Filers-Enter-Payment-Info-Here and follow the on-screen directions.

What if someone owes tax but hasn’t received an EIP?

The IRS says that “anyone else who normally files a tax return, including low- and moderate-income workers and families claiming the Earned Income Tax Credit, Child Tax Credit, or other tax benefits, cannot use the tool.”

The Recovery Rebate Credit can help filers who aren’t eligible for an Economic Impact Payment!

Finally, the IRS notes that there is still relief for those who do not qualify for an Economic Impact Payment: The Recovery Rebate Credit. This tax credit follows the same eligibility criteria as an Economic Impact payment, “except the amounts are based on tax year 2020, instead of tax year 2019 or tax year 2018 information:”

  • $1,200 for individuals
  • $2,400 for married couples filing jointly
  • $500 for each qualifying child

If any of your clients are interested in this credit, the IRS says they will need to follow the instructions on the Recovery Rebate Credit worksheet and claim it on a Form 1040 or 1040-SR.

Source: IR-2020-257

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