Introduction
The coronavirus pandemic has caused an unprecedented economic crisis in the United States. To help individuals cope with the financial hardship caused by the pandemic, the government has approved a stimulus package that includes direct payments to eligible individuals. This article will provide a comprehensive guide to determine if you are eligible for the stimulus check.
Check Eligibility Using the IRS Get My Payment Tool
The Internal Revenue Service (IRS) has created the Get My Payment tool to allow individuals to check their eligibility for the stimulus payment. The tool is available on the IRS website and can be accessed from any device with an internet connection. In order to use the tool, individuals must provide their Social Security number (SSN), date of birth, and address.
Ensure a Valid Social Security Number or ITIN
In order to be eligible for the stimulus check, individuals must have a valid Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN). If you do not have a valid SSN or ITIN, you can apply for one online. You will need to submit proof of identity such as a driver’s license or passport, as well as other required documents.
Adjusted Gross Income
The amount of the stimulus check is based on the individual’s adjusted gross income (AGI). According to the IRS, individuals who have an AGI of $75,000 or less will receive the full amount of $1,200. Those who have an AGI between $75,001 and $99,000 will receive a reduced amount. Individuals with an AGI of $99,001 or more will not be eligible for the stimulus payment.
File Taxes for 2018 or 2019
In order to be eligible for the stimulus check, individuals must have filed their taxes for either 2018 or 2019. If you have not filed taxes for either year, you must do so before the deadline in order to qualify for the stimulus check. When filing, individuals must provide accurate information regarding their income, dependents, and other relevant information.
Have a Valid Mailing Address
In order to receive the stimulus check, individuals must have a valid mailing address registered with the IRS. If your mailing address has changed since you last filed taxes, you must update it with the IRS. You can update your address online using the IRS Change of Address form. You may also need to submit additional documents such as a driver’s license or passport to verify your new address.
Updating Bank Account Information
If you choose to receive your stimulus check via direct deposit, you must provide your bank account information to the IRS. You can update your account information online using the IRS Direct Deposit form. You may also need to submit additional documents such as a voided check or bank statement to verify your account information.
Dependent Status
Individuals who are claimed as a dependent on someone else’s tax return will not be eligible for the stimulus check. If you are unsure if you are claimed as a dependent, you can contact the person who is claiming you as a dependent to confirm. Alternatively, you can review your tax return to see if you were claimed as a dependent.
Conclusion
The stimulus check is an important source of financial assistance for individuals affected by the coronavirus pandemic. This comprehensive guide provides all the necessary steps to determine if you are eligible for the stimulus check. To be eligible, individuals must have a valid SSN or ITIN, meet the adjusted gross income threshold set by the IRS, have filed taxes for 2018 or 2019, have a valid mailing address, and provide updated bank account information. Additionally, individuals who are claimed as a dependent on someone else’s tax return will not be eligible.
For more information about the stimulus check and other financial relief programs, please visit the IRS website or contact your local tax professional.
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