UPDATE Veterans urgent!
The Internal Revenue Service has set a deadline of May 5 for veterans to register for dependent payouts, after initially saying they would have only two days. But the guidance, along with warnings that veterans who don't complete the form now will have to wait until next year for their stimulus funds, has left some confused and scrambling.
"We have several veterans with no Internet access," one email received by Military.com said. "Are you able to get at least 25 copies of this IRS form mailed to us?" Military.com
UPDATE They changed their minds!
Mnuchin reverses course, won't force seniors to file tax return for coronavirus stimulus check
WASHINGTON — The Trump administration backtracked Wednesday evening on new rules for getting stimulus checks, saying Social Security recipients won't have to file a tax return to receive a payment.
The move is a response to pressure from elderly Americans and senators to rescind guidance issued Monday that said seniors needed to file a return to get the checks of up to $1,200, even if they weren't ordinarily required to file taxes.
Why some Americans may have to file tax returns before they see a coronavirus stimulus check
APR 1 2020
A $2 trillion stimulus bill passed by Congress last week included checks of $1,200 to $2,400 to be sent to Americans.
In the legislation, the government said it would deploy those payments using information from tax returns, or 1099 forms for others who don’t typically file those documents, such as some Social Security beneficiaries.
New guidance from the IRS said that those who don’t file returns will have to do so in order to get their payments. Now, some lawmakers and advocacy groups are pushing back.
NoDerog | iStock | Getty Images
There may be a catch for individuals who typically don’t file a tax return but are expecting to receive a stimulus check.
They may have to send a return to the government in order to get paid.
New guidance was released on Monday by the IRS, which said there would be “no action required for most people.”
For some, though, that’s not true.
“People who typically do not file a tax return will need to file a simple tax return to receive an economic impact payment,” the IRS stated. “Low-income taxpayers, senior citizens, Social Security recipients, some veterans and individuals with disabilities who are otherwise not required to file a tax return will not owe tax.”
That new information drew strong pushback from certain members of Congress and advocacy organizations, who argue that those individuals should not have to file just to get their money.
read it here