September 9, 2020
Category: Tax Advice
If You Don't File a Tax Return Because You Are a No or Low-Income Earner, You May Be Eligible to Receive an Economic Impact Payment; Sign Up by October 15th
Individuals who typically do not file taxes may still be eligible for an Economic Impact Payment under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
In April, the U.S. government passed the CARES Act, a $2 trillion economic stimulus package that provided benefits to individuals, including an Economic Impact Payment (sometimes referred to as a stimulus payment) of $1,200 for eligible individuals.
If you aren’t required to file federal income taxes, including because you have no income or your income is less than $12,200 individually (or $24,400 for joint filers), the IRS wants you to know that you may qualify for a stimulus payment.
For more information, check out these IRS resources: