The deadline for claiming an Economic Impact Payment is rapidly approaching.
Individuals have until Saturday, Nov. 21 at 3 p.m. EST to request one of the stimulus payments. To obtain a payment, individuals must use the “Non-Filers” tool on the Internal Revenue Service (IRS) website.
The only individuals who can register to utilize this tool are “those who don’t typically file a tax return, are not required to do so and have not yet registered, or for certain benefit recipients who got an EIP for themselves but need to provide information about a non-beneficiary spouse or qualifying child,” according to an IRS news release. Individuals who typically file a tax return cannot use the tool.
However, individuals who have not receive an Economic Impact Payment this year may be eligible for a Recovery Rebate Credit when they file their 2020 taxes. This amount will be baked on tax year 2020 instead of tax year 2019 or tax year 2018 information.
The maximum amount for the Economic Impact Payment is $1,200 or $2,400 for joint filers.
Click here to access the “Non-Filers” tool on the IRS website.
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