May 13 at noon is deadline to give IRS info for direct deposit of COVID-19 money

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May 13 at noon is deadline to give IRS info for direct deposit of COVID-19 money

Saturday, May 09, 2020

Providing bank data for direct deposit of coronavirus relief payments will get you added more quickly to the growing number of folks — around 130 million so far — who've received their COVID cash.

Person-holding-100-us-dollar-banknotes-2068975_alexander-mils_pexels

Photo by Alexander Mils from Pexels

More than 130 million COVID-19 economic impact payments have been delivered, according to the Internal Revenue Service. That means the tax agency is nearing the end of its distribution of the money that is intended to help folks cover a few of the costs they've incurred due to the impact of coronavirus on the U.S. economy.

And even though the IRS has completed almost 87 percent of the expected 150 million COVID relief payments it's been tasked with distributing, the agency is still encouraging folks who've yet to get their money to do so via direct deposit.

But you need to do so by noon on May 13.

Time Zone Note
The IRS news release about the bank info deadline does not specify Eastern Time for the noon deadline. However, since that's where the agency is headquartered, let's err on the side of time caution and go with Eastern Daylight Time. So if you live west of that time zone, or in a locale that doesn't observe Daylight Saving Time, adjust the 12 p.m. noon EDT deadline accordingly.

While the number of coronavirus relief payments already delivered is impressive, the deadline to ensure that more money can be distributed in the fastest possible fashion earns this weekend's By the Numbers recognition.

Provide your bank data ASAP: You can use the agency's special Get My Payment online tracker by midday this coming Wednesday to enter your bank routing and account information so that the COVID economic impact payments (EIP) can be electronically delivered.

"We're working hard to get more payments quickly to taxpayers," said IRS Commissioner Chuck Rettig. "We want people to visit Get My Payment before the noon Wednesday deadline so they can provide their direct deposit information. Time is running out for a chance to get these payments several weeks earlier through direct deposit."

Miss that deadline, and the IRS will use your mailing address to send you a paper check via the U.S. Postal Service. Those Treasury Department paper checks should begin arriving through late May and into June.

Who's getting EIPs: The economic impact payments were authorized as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act that was enacted on March 27. They are going automatically to individuals who filed a tax return in 2018 or 2019.

In addition, folks who didn't file a recent tax return but received Social Security retirement, survivor or disability benefits (SSDI), Railroad Retirement benefits, Supplemental Security Income (SSI) or Veterans Affairs (VA) payments also will get COVID EIP money without having to take any further action.

People who don't receive federal benefits and didn't have to file a 2018 or 2019 tax return also are eligible to get the coronavirus payment this year. However, in these cases, individuals need to use the IRS' online Non-Filer tool to register for the payment.

The coronavirus payment technically is an advance tax credit against 2020 taxes. If for some reason you don't get the money this year or don't get the maximum amount — that's $1,200 per individuals (double that for married couples filing a joint return) and $500 for each qualifying dependent child younger than age 17 — you can file a tax return next year and claim the credit.

But getting the money sooner, even if it's not that much, is preferable. So let the IRS know your bank info by May 13 to get it directly deposited. And if the IRS or other federal benefits agency doesn't have you in the system, use the Non-Filer tool to get on the economic impact payment delivery schedule.

State-by-state EIP distribution: The IRS has delivers more than $200 billion in economic impact payments so far. That's a nice increase from the $158 billion sent to 88.1 million COVID EIP-eligible individuals through mid-April.

The table below shows how much in coronavirus stimulus payments were delivered in the program's first four weeks, broken down by state, as well as amounts sent to qualifying taxpayers abroad or in U.S. territories.

Economic Impact Payment Totals by State and Abroad/Territories as reported May 8, 2020
State	Number of EIP Payments	Total Amount of EIP Payments
Alabama	1,996,007	$3,428,443,628
Alaska	277,432	$485,006,748
Arkansas	1,216,253	$2,128,987,406
Arizona	2,734,978	$4,712,311,770
California	13,564,730	$22,465,995,771
Colorado	2,141,841	$3,618,352,193
Connecticut	1,325,813	$2,162,539,412
Delaware	385,599	$646,913,592
District of Columbia	252,095	$349,400,662
Florida	9,169,713	$15,173,922,832
Georgia	4,069,403	$6,937,057,497
Hawaii	542,426	$923,960,321
Iowa	1,230,814	$2,212,426,465
Idaho	627,496	$1,255,712,382
Illinois	4,844,140	$8,169,566,380
Indiana	2,742,791	$4,855,661,708
Kansas	1,098,473	$1,980,223,913
Kentucky	1,878,814	$3,282,818,708
Louisiana	1,877,721	$3,180,135,799
Maine	594,555	$1,005,363,003
Maryland	2,186,404	$3,575,993,478
Massachusetts	2,503,206	$4,008,005,049
Michigan	4,081,884	$7,045,417,642
Minnesota	2,124,142	$3,714,368,466
Missouri	2,482,825	$4,337,599,739
Mississippi	1,225,834	$2,086,932,244
Montana	433,767	$759,469,674
Nebraska	743,803	$1,349,417,300
Nevada	1,279,890	$2,131,071,471
New Hampshire	560,833	$941,099,188
New Jersey	3,208,179	$4,287,240,934
New Mexico	851,449	$1,442,523,522
New York	7,737,476	$12,523,017,409
North Carolina	4,076,334	$6,985,338,563
North Dakota	287,210	$510,578,907
Ohio	4,916,174	$8,322,111,961
Oklahoma	1,556,747	$2,777,598,152
Oregon	1,658,586	$2,782,872,801
Pennsylvania	5,215,824	$8,821,284,132
Rhode Island	445,941	$725,567,957
South Carolina	2,060,588	$3,522,197,950
South Dakota	343,860	$625,042,408
Tennessee	2,881,709	$4,980,110,718
Texas	10,728,541	$18,796,209,760
Utah	1,075,546	$2,091,334,753
Vermont	267,295	$450,251,509
Virginia	3,196,178	$5,456,000,257
Washington	2,856,962	$4,875,983,730
West Virginia	784,111	$1,363,560,122
Wisconsin	2,307,675	$4,025,320,018
Wyoming	225,830	$407,690,034
Foreign Addresses	595,548	$977,830,929

I'm happy to report that the hubby's and my EIP is part of the Texas tally shown above. If you haven't gotten your COVID-19 payment yet, here's hoping it's added to this tally soon.

And get it sooner by giving the IRS your bank data by noon on May 13.

Coronavirus Caveat & More Information
In 2020, we're all dealing with extraordinary circumstances,
both in our daily lives and when it comes to our taxes.
The COVID-19 pandemic and efforts to reduce its transmission
and protect ourselves and our families means that,
for the most part, we're focusing on just getting through these trying days.
But life as we knew it before the coronavirus will return,
along with our mundane tax matters.
Here's hoping that happens soon!
In the meantime, you can find more on the virus and its effects on our taxes
by clicking Coronavirus (COVID-19) and Taxes.

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Posted on Saturday, May 09, 2020 at 03:40 PM in Coronavirus COVID-19, Filing, Finances, IRS, Politics, State/Local, Tax numbers, Taxes | Permalink | Comments (1)

Tags: coronavirus, COVID-19 economic relief payments, direct deposit, economic impact payment, Get My Payment, IRS, paper check, stimulus, tax, taxes

Comments

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I filed my 2019 return electronically but am being held up because I had not filed my 2018 taxes until a little over a week ago(by mail). This tax refund for 2019 and the EIP payment combined is for my family of 8, which are my wife and I, and our 6 young children. We are being delayed for nearly $12,000 because of this and cannot get any answers. Get My Payment saysnim eligible, and has my correct banking info, but doesn't provide a date since 4/23. No media guidance is out that I can find.
I don't know if anyone who reads this is able to and willing, or even can do anything to help us reach the right person with that organization who can address this for us, and what is very much past due to us from the IRS, but it's worth the try of posting here.

We appreciate anything anyone can do that will help us.

Posted by: Israel Garcia | Saturday, May 09, 2020 at 10:31 PM

The comments to this entry are closed.

Today's Tax Tip

Questions to ask, and answer, before you tackle your 1040 — You’ve got all your tax statements, but don’t file just yet. You also need to ask yourself some basic tax questions. Your answers could help you submit a tax return that’s as complete and correct as possible. They also could mean you don’t overlook any tax breaks. (Jan. 21, 2025)
The 2025 Tax Tips offer ways to file your annual return, along with post-filing advice, important tax news and, of course, ways to cut your current tax year bill. You'll find the monthly assemblages on their own respective pages: January, February, March, April, May, June, July, August, September, October, November and December. Remember, tax tasks and tips don't stop after you file your annual return!

All About Kay

OK, some about Kay

Kay Bell — Native Texan
(the blog title totally makes sense now, right?). Professional journalist. Tax geek.
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Tax Year 2025 Countdown

Happy New Tax Year! Are you ready to file your 2024 tax return? I know, too early to ask. But Tax Day 2025 will be here before we realize it. The Internal Revenue Service deadline to file and pay any tax we owe is the regular April 15 date this year. It’s also Tax Day for most of the states that collect income taxes from their residents, which is most of the states! If that seems too far away right now, don’t worry. As is the case every tax season, the ol' blog’s monthly tips and reminders a little farther down this column should help all of us meet our state and federal responsibilities. Procrastinators also will want to keep an eye on the countdown clock just below. It tracks how much time we have until April's Tax Day, just in case we put off our annual tax task until the absolutely final hours and decide we need to instead get an extension request into the Internal Revenue Service by that date.
Note: I'm in the Central Time Zone, so adjust accordingly for where you live.

Time for Tax Tasks

🎆 Happy 🎉 New 🥂 Year! 🎆

Hello 2025! Last year was challenging, and I’m sure you’ll find plenty of new ways to test us over the next 12 months, but we’re ready for it. We hope!

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At least we know it will be exciting on the tax front, with the Tax Cuts and Jobs Act’s individual tax provisions set to expire on Dec. 31. Congress will have its hands full either extending or revising the tax provisions. But don’t worry. The ol’ tax blog will be here throughout 2025, watching that process and keeping tabs on all the New Year’s tax-saving potential. So, let's get to it now, with the January tax moves below.
Jan. 1: Once more for the official monthly tax moves — Happy New Year! Some people are champing at the bit to get their taxes filed, mainly because they are expecting an Internal Revenue Service refund. But remember, you need to get all your tax documentation before you can accurately complete your Form 1040. And even if you send the form(s) early, the IRS won’t start processing them until later this month. So, take a deep breath. We’ve a ways to go yet.

Jan. 6: It's the first official work week of 2025, with folks who took long holiday breaks finally returning to the office. Once you get settled at your desk, you might want to take some time for a couple of tax-related tasks that could pay off, this year and after you’re done with the 9-to-5.

First, check your paycheck withholding and, if necessary, adjust it. That might be necessary if you’ve experienced a major life change.

Second, if your workplace has a 401(k) plan and you’re not using it, sign up as soon as possible. Then contribute as much as you can. This will give your retirement account more time to grow tax-deferred if it’s a traditional 401(k) or tax-free if it is a Roth version.

Jan. 10: Is your adjusted gross income (AGI) $84,000 or less, regardless of your filing status? Then you qualify to use Free File, which became available today. The same eight software companies that participated last year are back for the 2025 filing season.

If your income is too high, you still can file for free by using Free File's Fillable Forms option. That will be available on Jan. 27 when the full 2025 tax season kicks off and the IRS starts processing all returns that were filed before then and that have been in a holding pattern.

Jan. 10: Do you work as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation? I hope you get all the tips you deserve for doing your job well. Remember, though, that those tips are taxable income.

Whether you're dining at your favorite eatery or getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.

And if you got at least $20 in gratuities in December for your extraordinary services as a food server or hair stylist or parking valet or whatever job where tipping is common, you must report that amount by today. Use Form 4070 to let your employer know the total tips you took in last month.

Jan. 15: Today is the due date for the final estimated tax tax payment for the 2024 tax year. This payment covers the earnings you got last October, November, and December that weren’t subject to withholding. You can pay your estimated amount electronically, or mail your check payment and voucher 1040-ES to the IRS in an envelope postmarked today.

Jan. 20: Today is Martin Luther King Jr. Day. Every year on this federal holiday, millions of people commit to a day of service.

Click image to find out ways
you can volunteer on MLK Day.
Taking time on the Rev. Dr. King's holiday to volunteer at a nonprofit isn't tax deductible, but some costs associated with volunteering could help reduce your tax bill if you itemize.

Jan. 20: Tonight also is title time. The 2025 NCAA College Football champion will be crowned this evening in Atlanta. It’s taken a while to get here. The championship playoff bowl games system was extended, with qualifying matchups starting on Dec. 21, 2024. It's been a fun run for college football fans and for those who bet on the games thanks to the Supreme Court's 2018 ruling that allowed states to accept legal sports wagers, including on college competitions. If you're one of those gamblers and your game picks pay off, remember that you'll owe taxes on your winnings when you file your 2025 return next year.

Jan. 27: Tax Season 2025 officially starts. That includes processing of tax returns filed earlier, whether via commercial software, tax preparers, IRS Free File, or IRS Direct File, the IRS’ own free online tax prep and e-filing program. In addition to more than double the Direct File participating states from last year, the IRS operated site will offer more options that apply to more taxpayers’ situations.

Jan. 31: Wow! The first month of 2025 is over? So soon? Time really does fly when you're having tax fun. We'll keep it going here in this new year with new Tax Moves to Make each month, which you also can find on their monthly tax tips pages. January’s tips page is already is filling up!

Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. The IRS is updating the online version. Until that link is operational, you can get the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

Don't forget your state taxes!
Forty-two states and D.C. collect personal income taxes. But even if you live in of the eight states without any income levy, you still face other state (and local) taxes.

State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

Tax Forms

Thanks to our increased use of tax preparers and computer software, many of us don't see our tax forms until we sign and file them. But knowing what's on these documents, either in paper or digital form, and why the IRS wants it is key to understanding our tax system. And knowledge definitely is power, especially when it comes to tax savings. Find this valuable information in the ol' blog's special Tax Forms 2025 page.

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COVID-19 & Taxes

Coronavirus has wreaked havoc
on the 2020 and 2021 tax seasons.
These five Coronavirus (COVID-19) and Taxes pages have details:
March-July 2020
August-December 2020
January-December 2021
January-December 2022
…and so it continues into 2023
…and, alas, into 2024
You can find medical coronavirus resource links in the next section.

COVID-19 Resources

Need help finding a coronavirus vaccine in the United States?
Call 1-800-232-0233
or TTY 1-888-720-7489.
More information and resources at:
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January 2025

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Tell it to the Hill

While it's easy to rail at the IRS, for the most part we can thank — or blame — Congress and the White House for our tax laws. So if you have an issue with tax legislation or want a tax bill passed, you need to let your federal legislators and the White House occupant know of your concerns. You can find out who in Washington, D.C., to contact (and how), as well as get information on your local lawmakers for matters, tax or otherwise, closer to home, at USA Gov.

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