Last week saw the IRS announce two new online resources for Economic Impact Payments (EIPs): the Non-Filers: Enter Payment Info Here and Get My Payment tools. On Wednesday, April 15, Get My Payment went online, providing EIP recipients a convenient way to set up direct deposit for and track the status of their payment.
Why did the IRS create the Non-Filers: Enter Payment Info Here and Get My Payment tools?
As noted in a previous blog, Non-Filers: Enter Payment Info Here was designed to help a specific subset of Americans send the IRS the information it needs to determine EIP eligibility: those who don’t normally file a tax return and aren’t a Railroad Retirement, Social Security, Social Security Disability, Supplemental Security Income, or Veterans Association benefits recipient.
This IRS announcements are tinged with a sense of urgency that directly stems from three problems:
- The first round of payments was scheduled to begin April 13, 2020
- Affected non-filers weren’t sure how to provide the IRS with the information required to qualify for EIP
- The IRS is currently grappling with logistical issues caused by social-distancing policies
Despite these difficulties, the IRS successfully collaborated with members of the tax industry to quickly develop and release Non-Filers: Enter Payment Info Here ahead of the Monday deadline. And the Wednesday release of Get My Payment addresses the other side of the coin: tracking the status of those scheduled payment.
What does the Get My Payment tool do?
Filers who log into Get My Payment can use the new IRS.gov tool to track the status of their Economic Impact Payment and—if the payment isn’t already on the way—sign up to receive it via direct deposit. To use either service, you essentially fill out an online questionnaire.
To track the status of your EIP, the IRS says that users need to enter information that was included with a recently filed return or submitted to the Non-Filers: Enter Payment Info Here tool, like their Social Security number, date of birth, and mailing address. (The IRS notes that—like Where’s My Refund, the agency’s tax-refund tracking tool—Get My Payment is only updated once per day.)
When it comes to signing up for direct deposit in Get My Payment, the IRS says users should expect to provide this banking information:
- Their Adjusted Gross Income from their most recent tax return submitted, either 2019 or 2018
- The refund or amount owed from their latest filed tax return
- Bank account type, account and routing numbers
On Friday, Taxing Subjects contributor Bob Williams will share his personal experience using Get My Payment, so be sure to check back with us to hear a first-hand account of the new IRS resource.
Source: IR-2020-72
Patricia Parrilla Tax Services