April 15th Takes on New Meaning in 2020
For most Americans, April 15th is no day for celebration. We pay our taxes, dutifully (if somewhat begrudgingly from time to time) and get on with the business of, well, business.
Today, many of the same Americans who, April 15th after April 15th have SENT money to the IRS, have received money from that same government agency.
If you have not done so already, check your bank account and, if you filed your 2018 taxes and attached a bank account for direct refunds, you may find $1,200 + $500 per child has just appeared in your account.
The process of applying for the EIDL, the SBA PPP Loan and the Main Street Loans are arduous, requiring the sorting through and retrieving of years of payroll records, Benefits payments as well as business financial statements, bank statements and filling out long and complex loan applications.
The process of receiving the IRS stimulus money is a s simple as checking your bank. If you do not have a check go to : https://www.irs.gov/coronavirus/get-my-payment to begin the process of tracking down your money.
Most people don’t have to do anything to get their stimulus checks. IRS is using direct deposit information from people’s 2018 and 2019 taxes to send out payments. In late April, they will send out a second wave to Social Security recipients who didn’t file taxes but do get their benefits via direct deposit. After that, the IRS will send out paper checks. Recipients will be those taxpayers who made between $20K and $150K in 2018.