The Internal Revenue Service announced today that it will delay the start of tax filing season until Feb. 12.
Browsing: Economic impact payments
The Internal Revenue Service today announced that—in a reversal of previous guidance—it will reissue payments for taxpayers who did not initially receive their second-round economic impact payments due to a processing error.
As the Internal Revenue Service continues to address the error that caused millions of economic impact payments to be incorrectly routed to temporary or incorrect bank accounts, the IRS today said that, together with tax industry partners, it is “taking immediate steps to redirect stimulus payments to the correct account for those affected.”
The IRS today issued additional instructions in an attempt to remedy the processing error that led to millions of economic impact payments being erroneously sent to accounts that were closed, inactive or temporary accounts.
The Internal Revenue Service tonight clarified that economic impact payment recipients who had their ACH payments erroneously sent to an account that is closed, inactive or a temporary account, will not receive their payment and must instead claim the Recovery Rebate Credit when filing their 2020 tax return electronically.
The Internal Revenue Service today announced that the Get My Payments portal—available in English and Spanish—is now live for individuals to log on and view the status of their economic impact payment.
The Internal Revenue Service has begun processing ACH files for the $600-per-person economic impact payments, with a value date of Jan. 4, 2021, the Treasury Department said tonight.
After President Trump signed the COVID-19 economic relief bill Sunday night, bankers should expect to see ACH transactions for the $600-per-person economic impact payments begin arriving as soon as tomorrow, Dec. 29.
With Congress poised to cast final votes on a $900 billion bipartisan coronavirus relief package later this evening, ABA staff are currently reviewing the 5,500 page legislative text.
After weeks of negotiations, congressional leaders tonight announced a deal for a $900 billion bipartisan coronavirus relief package.