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Internal Revenue Service Announces they have Disbursed Approximately 90 Million Economic Impact Payments

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Federal income tax filing due date for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021

the staff of the Ridgewood blog

Washington DC, Federal income tax filing due date for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service also announced they disbursed approximately 90 million Economic Impact Payments from the American Rescue Plan. As announced last week, Economic Impact Payments are rolling out in tranches to millions of Americans in the coming weeks.

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Social Security Beneficiaries will Automatically Get Economic Impact Payments

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the staff of the Ridgewood blog

Ridgewood NJ, according to the Social Security Administration , the Department of the Treasury (Treasury) announced on April 1 that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an economic impact payment. The IRS will use the information on the Form SSA-1099 to generate $1,200 economic impact payments to Social Security beneficiaries who did not file tax returns in 2018 or 2019.

Treasury, not Social Security, will make automatic payments to Social Security beneficiaries. Beneficiaries will receive these payments by direct deposit or by paper check, just as they would normally receive their Social Security benefits.

For updates from the IRS, visit www.irs.gov/coronavirus.

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IRS: Economic impact payments

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the staff of the Ridgewood blog

Ridgewood NJ, The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people :

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