Waiting for Your Stimulus Check? You Better File Your Taxes!
The US Government recently approved a $2 trillion stimulus package to stimulate the economy and provide relief to individuals and businesses during this unprecedented COVID-19 crisis. The IRS plans to begin sending out coronavirus stimulus payments as soon as April 9, 2020, but how do they know who to send them to? They are looking at tax returns. Specifically, 2018 and 2019 tax returns. If you have not filed a tax return for 2018 or 2019, the opportunity to receive a stimulus payment may pass you by!
This is of pretty significant concern for a number of Americans who are not current on their income tax filings. There are a lot of reasons why someone may not have filed their income taxes. Some people do not file because they are not required to file, such as if their only source of income is social security or disability. Others put off filing for a variety of reasons, such as overwhelming life circumstances or inability to pay.
If you are like many taxpayers who have, for one reason or another, fallen behind on your income tax filings, now is the time to get caught up! If you don’t file your taxes, at least through 2018, you are leaving your share of the stimulus money on the table. Even if you are a taxpayer who is not required to file, the IRS is recommending that you file a simple return for 2018 or 2019 just to be sure they know you are out there and requesting your stimulus payment.
Scaringi Law provides free initial consultations and we can prepare your income tax returns at competitive flat rates. Call our office at 717-657-7770 today before your opportunity to receive your stimulus payment passes you by!