For those who did not earn enough, in the past year, and aren’t used to filing for taxes, this year may be different. Anyone whose income falls below $12,200, or a couple whose income falls below $24,400, can file for the economic impacts payment.
According to the IRS and filemytaxesonline.org, 159 million economic impact payments have been processed. Those who have a salary below the tax threshold and those without any salary can receive a stimulus payment.
The forms for the economic impacts payment will be available from summer till October 15th. So people can file it on the IRS website. You can even look up for how early can you file taxes 2021, and get ahead for that as well. If you are a resident of America or a citizen whose annual income is less than $12000, you can apply for the stimulus payment.
During the filing, the government will ask for the following details like – full name, current mailing address and an email address, date of birth, and a valid Social Security number.
Other than that, the person has to provide bank account number, type and routing number, Identity Protection Personal Identification Number, and Driver’s license or state-issued ID.
These are the details which must be provided. If you have a qualifying child, then you must provide the name, social security number, or Adoption Taxpayer Identification Number and their relationship to you or your spouse.
Because of the lockdown imposed due to the COVID-19 situation, many may not have a steady income. Some may have lost their jobs, and others must have faced salary cuts. If your annual income is less than the tax threshold, then you are eligible to apply for the economic impact payments.