April 13, 2020
The U.S. Department of Treasury announced on April 10 that they would be launching a web app. Here is the press release:
WASHINGTON — The U.S. Department of the Treasury and IRS will launch the “Get My Payment” web application this week. The FREE app—which will be found at
IRS.gov
—will allow taxpayers who filed their tax return in 2018 or 2019 but did not provide their banking information on their return to submit direct deposit information. Once they do, they will get their Economic Impact Payments in their bank accounts quickly, instead of waiting for a check to arrive in the mail. “Get My Payment” will also allow taxpayers to track the status of their payment.
“Get My Payment” is an online app that will display on any desktop, phone or tablet. It does not need to be downloaded from an app store.
For taxpayers to track the status of their payment, they will need to enter basic information in the “Get My Payment” app:
- Social Security Number
- Date of birth
- Mailing address
Taxpayers who want to add their bank account information to speed receipt of their payment will also need to provide the following additional information:
- Their Adjusted Gross Income from their most recent tax return submitted, either 2019 or 2018
- The refund or amount owed from their latest filed tax return
- Bank account type, account and routing numbers
Treasury and the IRS encourage taxpayers to collect this information now, through their tax preparers or other means, so they can submit this information in the app as soon as it is launched and get their money fast.
Americans who did not file a tax return in 2018 or 2019 can use “Non-Filers: Enter Payment Info Here” to submit basic personal information to quickly and securely receive their Economic Impact Payments.
Americans who filed 2018 or 2019 tax returns with direct deposit information or receive Social Security do not need to take action. They will automatically receive payment in their bank accounts.
“Get My Payment” cannot update bank account information after an Economic Impact Payment has been scheduled for delivery. To help protect against potential fraud, the tool also does not allow people to change bank account information already on file with the IRS. The IRS does not initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information. We urge taxpayers to be on the lookout for scammers and email phishing attempts about the COVID-19 and Economic Impact Payments.
Please visit
IRS.gov
for updates on the launch of the “Get My Payment” app.
We will share more details as they become available. Please visit our
COVID-19 Resource Page
for more updates.
Feel free to contact any member of our team at (610) 828-1900 (PA) or (732) 341-3893 (NJ) with questions. Rich Higgins, CPA, managing principal – New Jersey office can be contacted at
Richard.Higgins@MCC-CPAs.com
. I can be reached at
Marty.McCarthy@MCC-CPAs.com
. As always, we are happy to help.
Stay safe,
Marty McCarthy, CPA, CCIFP
Managing Partner
McCarthy & Company
Source: U.S. Department of the Treasury Press Release. April 10, 2020.
Disclaimer: This alert is for informational purposes only and does not constitute professional advice. Information contained in this communication is not intended or written to be used as tax advice, and cannot be used by the recipient to avoid penalties that may be imposed under the Internal Revenue Code. We strongly advise you to seek professional assistance with respect to your specific issue(s).
