What To Do If You Receive IRS Notice 1444-A from the IRS.

First off, you should be excited because the government is trying to send you money in the form of an Economic Impact Payment. If you receive this letter in the mail, you should take action prior to October 15, 2020 or else you may lose your right to the Economic Impact Payment.

If you do not have a filing requirement and are not planning on filing a 2019 tax return, you can register online for an Economic Impact Payment using the Non-Filers: Enter Payment Info tool on IRS.gov before the extended November 21, 2020 deadline if you’re eligible. For all other individuals, the October 15, 2020 deadline still applies.

Individuals can receive up to $1,200, and married couples can receive up to $2,400. People with qualifying children under age 17 can get up to an additional $500 for each qualifying child. You are likely eligible for an Economic Impact Payment if you:

· are a U.S. citizen or resident alien;

· have a work-eligible Social Security number; and

· can't be claimed as a dependent on someone else's federal income tax return.

Receiving a letter is not a guarantee of eligibility for an Economic Impact Payment. For more information on eligibility requirements, see the Economic Impact Payment eligibility FAQs on IRS.gov. The professionals at The Center for Financial, Legal, and Tax Planning are more than knowledgeable with regards to the tax code and other aspects of the CARES Act, including Economic Impact Payments. Please contact us at (618) 997-3436 with any questions.