Economic Impact Payment “Get Your Payment” Link Live

The Economic Impact Payment “Get Your Payment” web service went live today. From the IRS: Use the “Get My Payment” application to check your payment status, confirm your payment type (either direct deposit or paper check), enter your bank account information for direct deposit if the IRS doesn’t have your direct deposit information and they haven’t sent your payment yet.  Click the link below to be redirected to the IRS’ Economic Impact Payments page.

https://www.irs.gov/coronavirus/economic-impact-payments

Are You A Non-Filer?: Enter Your Economic Impact Payment Information Here

From the IRS:

Who is eligible for the Economic Impact Payment?

U.S. citizens or resident aliens who:

  • Have a valid Social Security number,
  • Could not be claimed as a dependent of another taxpayer, and
  • Had adjusted gross income under certain limits.

Who will receive the Economic Impact Payment automatically without taking additional steps?

Most eligible U.S. taxpayers will automatically receive their Economic Impact Payments including:

  • Individuals who filed a federal income tax for 2018 or 2019
  • Individuals who receive Social Security retirement or Social Security Disability Insurance benefits
  • Individuals who receive Railroad Retirement benefits

Who should use Non-Filers: Enter Payment Info to provide additional information to receive the Economic Impact Payment?

Eligible U.S. citizens or permanent residents who:

  • Had gross income that did not exceed $12,200 ($24,400 for married couples) for 2019
  • Were not otherwise required to file a federal income tax return for 2019, and didn’t plan to

You can provide the necessary information to the IRS easily and quickly for no fee through Non-Filers: Enter Payment Info. We will use this information to determine your eligibility and payment amount and send you an Economic Impact Payment. After providing this information you won’t need to take any additional action.

Who should use Non-Filers: Enter Payment Info to provide additional information to receive the Economic Impact Payment?

Eligible U.S. citizens or permanent residents who:

  • Had gross income that did not exceed $12,200 ($24,400 for married couples) for 2019
  • Were not otherwise required to file a federal income tax return for 2019, and didn’t plan to

You can provide the necessary information to the IRS easily and quickly for no fee through Non-Filers: Enter Payment Info. We will use this information to determine your eligibility and payment amount and send you an Economic Impact Payment. After providing this information you won’t need to take any additional action.

 

Non-Filers: Enter Payment Info Here

 

Information You will Need to Provide

  • Full name, current mailing address and an email address
  • Date of birth and valid Social Security number
  • Bank account number, type and routing number, if you have one
  • Identity Protection Personal Identification Number (IP PIN) you received from the IRS earlier this year, if you have one
  • Driver’s license or state-issued ID, if you have one
  • For each qualifying child: name, Social Security number or Adoption Taxpayer Identification Number and their relationship to you or your spouse

What to Expect

Clicking “Non-Filers: Enter Payment Info Here” above will take you from the IRS site to Free File Fillable Forms, a certified IRS partner. This site is safe and secure.

Follow these steps in order to provide your information:

  • Create an account by providing your email address and phone number; and establishing a user ID and password.
  • You will be directed to a screen where you will input your filing status (Single or Married filing jointly) and personal information.
  • Note: Make sure you have a valid Social Security number for you (and your spouse if you were married at the end of 2019) unless you are filing “Married Filing Jointly” with a 2019 member of the military. Make sure you have a valid Social Security number or Adoption Taxpayer Identification Number for each dependent you want to claim for the Economic Impact Payment.
  • Check the “box” if someone can claim you as a dependent or your spouse as a dependent.
  • Complete your bank information (otherwise we will send you a check).
  • You will be directed to another screen where you will enter personal information to verify yourself. Simply follow the instructions. You will need your driver’s license (or state-issued ID) information. If you don’t have one, leave it blank.

You will receive an e-mail from Customer Service at Free File Fillable Forms that either acknowledges you have successfully submitted your information, or that tells you there is a problem and how to correct it. Free File Fillable forms will use the information to automatically complete a Form 1040 and transmit it to the IRS to compute and send you a payment.

Like the IRS, Wisconsin Extends Tax Deadline to July 15th

Both federal and Wisconsin income tax payment and return due dates are automatically extended to July 15, 2020. Wisconsin law will automatically extend time and waive interest and penalties for taxpayers due to a presidentially declared disaster.

Points of interest with this notice:

• Tax filers do not have to file any extension forms to be eligible for this new due date.
• There is no limit on the amount of payment to be postponed, and there are no income exclusions.
• This applies to individuals, trusts, estates, partnerships, associations, companies or corporations.
• This relief is solely for income tax payments, estimated income tax payments and returns due April 15, 2020.
• There will be no interest or penalty for the period of April 15, 2020 to July 15, 2020.
• Interest, penalties, and underpayment interest for failure to make quarterly estimated tax payments with respect to such postponed federal income tax filings and payments will begin to accrue on July 16, 2020.

To see the full release, visit: https://www.revenue.wi.gov/Pages/News/2020/Tax-Deadline-Extended.pdf

From the Wisconsin Department of Revenue

Protect Yourself from Medicare Fraud

From Medicare.gov: Scammers may use COVID-19 as an opportunity to steal your identity and commit Medicare fraud. In some cases, they might tell you they’ll send you a Coronavirus test, masks, or other items in exchange for your Medicare number or personal information. Be wary of unsolicited requests for your Medicare number or other personal information.

It’s important to always guard your Medicare card like a credit card and check your Medicare claims summary forms for errors. Only give your Medicare number to participating Medicare pharmacists, primary and specialty care doctors or people you trust to work with Medicare on your behalf. Remember, Medicare will never call you to ask for or check your Medicare number.

For more information on protecting yourself from fraud and reporting suspected fraud, visit Medicare.gov/fraud.

Track tax refunds using the “Where’s My Refund?” tool at IRS.gov

WASHINGTON — Offering time-saving alternatives to a telephone call, the Internal Revenue Service reminds taxpayers they can get fast answers to their refund questions by using the “Where’s My Refund?” tool available on IRS.gov and through the IRS2Go app.

The IRS issues nine out of 10 refunds in less than 21 days, and the fastest way to get a refund is to file electronically and choose direct deposit. The time around Presidents Day is a peak period for telephone calls to the IRS, resulting in longer than normal hold times for callers.

The question most frequently asked this time of year is, “Where’s my refund?”. The IRS reminds taxpayers that IRS customer service representatives can only research a refund’s status if it has been 21 days or more since the taxpayer filed electronically or six weeks since they mailed a paper return.

See more at: https://www.irs.gov/newsroom/avoid-the-rush-track-tax-refunds-using-the-wheres-my-refund-tool-at-irsgov

IRS launches Identity Theft Central

The Internal Revenue Service launched Identity Theft Central, designed to improve online access to information on identity theft and data security protection for taxpayers, tax professionals and businesses.

Located on IRS.gov, Identity Theft Central is available 24/7 at irs.gov/identitytheft. It is a resource on how to report identity theft, how taxpayers can protect themselves against phishing, online scams and more.

Improving awareness and outreach are hallmarks of initiatives to combat identity theft coordinated by the IRS, state tax agencies and the nation’s tax industry, all working in partnership under the Security Summit banner.

Since 2015, the Security Summit partners have made substantial progress in the fight against tax-related identity theft. But thieves are still constantly looking for ways to steal the identities of individuals, tax professionals and businesses in order to file fraudulent tax returns for refunds.

The partnership has taken a number of steps to help educate and improve protections for taxpayers, tax professionals and businesses. As part of this effort, the IRS has redesigned the information into a new, streamlined page − Identity Theft Central − to help people get information they need on ID theft, scams and schemes.

From this special page, people can get specific information including:

  • Taxpayer Guide to Identity Theft, including what to do if someone becomes a victim of identity theft
  • Identity Theft Information for Tax Professionals, including knowing responsibilities under the law
  • Identity Theft Information for Businesses, including how to recognize the signs of identity theft

The page also features videos on key topics that can be used by taxpayers or partner groups. The new page includes a video message from IRS Commissioner Chuck Rettig, warning signs for phishing email scams – a common tactic used for identity theft – and steps for people to protect their computer and phone.

This is part of an ongoing effort by the IRS to share identity theft-related information with the public. The IRS continues to look for ways to raise awareness and improve education and products related to identity theft for taxpayers and the tax professional community.

See full story at: https://www.irs.gov/newsroom/irs-launches-identity-theft-central

New Form 1040-SR ~ Alternative Filing Option Available for Seniors

The Bipartisan Budget Act of 2018 required the IRS to create a tax form for seniors. Taxpayers age 65 or older now have the option to use Form 1040-SR, U.S. Tax Return for Seniors. Form 1040-SR, when printed, features larger font and better readability.

Taxpayers born before Jan. 2, 1955, have the option to file Form 1040-SR whether they are working, not working or retired. The form allows income reporting from sources common to seniors such as investment income, Social Security and distributions from qualified retirement plans, annuities or similar deferred-payment arrangements. Eligible taxpayers can use Form 1040-SR whether they plan to itemize or take the standard deduction. Married people filing a joint return can use the Form 1040-SR regardless of whether one or both spouses are age 65 or older or retired.

Adapted from TAXPRO Weekly

IRS: Jan. 31 filing deadline for employers, other businesses to file wage statements, independent contractor forms

WASHINGTON — With just a few days remaining until the deadline, the Internal Revenue Service reminds employers and other businesses that January 31 is the filing deadline for submitting wage statements and forms for independent contractors with the government.

Employers must file their copies of Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, with the Social Security Administration by January 31. The January 31 deadline also applies to certain Forms 1099-MISC, Miscellaneous Income, filed with the IRS to report non-employee compensation to independent contractors…

Taxpayers: Steps to take if no W-2

Most taxpayers get their Form W-2, Wage and Tax Statement, by the end of January. Taxpayers need their W-2s to file accurate tax returns, as the form shows an employee’s income and taxes withheld for the year.

Taxpayers who haven’t received their W-2 by the end of February should, as a first step, contact their employer. Taxpayers should ask their current or former employer for a copy of their W-2. Be sure the employer has the correct address. Additional information for taxpayers is available at IRS.gov.

See more of this story at: https://www.irs.gov/newsroom/irs-jan-31-filing-deadline-for-employers-other-businesses-to-file-wage-statements-independent-contractor-forms

What should you do if you get a call claiming there’s a problem with your Social Security number or account?

If there is a problem, SSA will mail you a letter with your Social Security number. Generally, SSA will only contact you if you have requested a call or have ongoing business with them. Recently, scams—misleading victims into making cash or gift card payments to avoid arrest for Social Security number problems—have skyrocketed.

Social Security employees will never threaten you for information or promise a benefit in exchange for personal information or money. Social Security employees also will not:

  • Tell people that their Social Security number has been suspended.
  • Promise a Social Security benefit approval, or increase, in exchange for information.
  • Contact people to demand an immediate payment.
  • Ask people for credit or debit card numbers over the phone.
  • Require a specific means of debt repayment, like a prepaid debit card or gift card.
  • Demand that people pay a Social Security debt without the ability to appeal the amount you owe.

Be cautious about providing personal information to someone who calls you and asks for:

  • Cash;
  • Retail gift cards;
  • Prepaid debit cards; or
  • Wire transfers.

Never provide payment to callers over the phone.

  • If you receive a suspicious call or are unsure of the identity of someone alleging to be from Social Security: Hang up;
  • Do not provide personal information, money, or retail gift cards; and
  • Report details of the call to the Office of the Inspector General.

 

Adapted from SSA.gov

Identity Protection Pins (IP PINs) Issued

This past week taxpayers began receiving letters that contain their IP PIN for use when filing their 2019 tax returns. An IP PIN is a six-digit number assigned to eligible taxpayers that helps prevent the misuse of their Social Security number on fraudulent federal income tax returns.

If you lost your CP01A letter (the notice containing your IP PIN) and need an IP PIN, you can go to Get an IP PIN or Retrieve Your IP PIN. Users must validate their identities. If unable to validate, you should call the identity theft line at 800-908-4490 to have the information mailed. If you moved after Jan. 1, 2020, you will need to file a paper return without an IP PIN.

Adapted from TAXPRO Weekly