An impending tax deadline just got a little less imposing.
The Internal Revenue Service is giving people who've yet to register for a COVID-19 economic impact payment (EIP) until Nov. 21 to supply their tax information.
The November date is five weeks later than the Oct. 15 deadline the IRS set when it originally sent out letters to the almost 9 million potential stimulus recipients.
These individuals didn't file a 2018 or 2019 tax return because they didn't make enough money to require them to do so. However, they still could qualify for some coronavirus relief.
But to get the relief payments, they need to provide the IRS with their information using the online Non-Filers: Enter Info Here tool on IRS.gov.
The IRS recommends that non-filers using the online tool choose during that process to have their EIP delivered as a direct deposit to a bank account. If they don't, the COVID-19 relief money will be sent as a Treasury check.
The EIP amount is $1,200 per person, double that for married couples that file joint returns and $500 for eligible dependent children younger than age 17.
To get that money this year, the IRS asks that they now complete that online process by Nov. 21. The tool won't be available after that date.
Replacement return: The information that is asked of individuals who use the non-filers tool essentially is a tax return.
It's based on Free File Fillable Forms, which is part of the Free File Alliance's no-cost tax filing products available at the Free File site on IRS.gov. That's enough to earn the non-filers' option a place in the Tax Form Tuesday list.
The non-filers tool is designed for married couples with incomes typically less than $24,400 and for singles making less than $12,200 and who cannot be claimed as a dependent by another taxpayers.
Anyone using the Non-Filers tool can speed the arrival of their payment by choosing to receive it by direct deposit. Those not choosing this option will get a check.
Two weeks after registering at the online non-filers site, you can track the status of any qualifying EIP by using the Get My Payment tool also on the IRS website.
Don't waste the additional time: "We took this step to provide more time for those who have not yet received a payment to register to get their money, including those in low-income and underserved communities," said IRS Commissioner Chuck Rettig in the announcement of the deadline change.
The commissioner also encouraged those who need to use the non-filer tool option to do so soon.
"Time is running out for those who don't normally file a tax return to get their payments," Rettig added.
As for the November cut-off of the non-filer availability, Rettig said extending the deadline further "would adversely impact our work on the 2020 and 2021 filing seasons."
Normal filing extension firm: The Oct. 15 deadline, however, is still in effect for taxpayers who earlier this got an extension to file their 2019 taxes.
If you got the extra filing time, you'll need to get your completed 2019 tax year Form 1040 to the IRS by then — and that's next week, next Thursday to be precise! — or you could face late- or non-filing penalties.
You also should have paid what you estimated you might owe on your 2019 taxes back when you file for an extension. If you didn't do that or miscalculated your eventual tax bill, you'll also face penalties and interest on that overdue tax balance.
You also might find these items of interest:
- Tax injured spouses to get catch-up COVID-19 payments
- 1 million+ Californians top list of missed COVID payments
- COVID-created tax refund interest payments going to nearly 14 million filers
|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.