Get My Payment Application Debuts on IRS.gov

As appearing in e-News for Tax Professionals: Issue Number 2020-16

Working with the Treasury Department, the new Get My Payment application, allowing taxpayers to check on their Economic Impact Payments, debuted on the IRS website. The application will answer common questions as an initial round of more than 80 million Economic Impact Payments hits recipients’ bank accounts.

Get My Payment will show the projected date when a deposit has been scheduled, similar to the “Where’s My Refund tool” many taxpayers are already familiar with. Get My Payment also allows people to provide their bank account information. People who did not use direct deposit on their last tax return can also use the application to input their bank information to receive the payment by direct deposit, expediting receipt.

Last week the Treasury Department and the IRS also launched a web tool allowing registration for Economic Impact Payments for those who don’t normally file a tax return. The Non-Filer Tool was designed for people who don’t have a return filing obligation, including those whose income falls beneath the filing threshold.

(This is Blog Post #790)

About the Author: Roger Rossmeisl, CPA

Roger Rossmeisl, CPA, brings over 40 years of experience helping small business owners who have outgrown their current CPA firm and larger companies seeking responsive, cost-effective solutions they’re not receiving from their current CPA Firm. He goes beyond tax compliance, explaining the “why” behind the numbers and their impact on cash flow and other decision making. An avid follower of federal monetary policy, Roger adds insight into how government actions affect business and wealth. With a niche in franchised new vehicle dealerships, he has served over 100 franchise stores and groups through decades of evolving IRS rules and legislation.

Categories: Individual Tax Briefs