Did you get your stimulus check from the Internal Revenue Service (IRS) to help with expenses during the pandemic? Do you think you are eligible and are still waiting for the check? The IRS appears to be making some efforts to make sure that all those who are owed a stimulus check get one.
In this article, we will discuss the latest news on what the IRS is doing to make sure that all those eligible will get their stimulus check. If, after reading this article, you would like to discuss your own tax circumstances, we invite you to call the IRS tax defense attorney in Sarasota, Mary E. King.
The Law Office of Mary E. King, P.L. can make sure that your tax issues are resolved efficiently and at the lowest cost to you. Please fill out our online contact form, or call us at 941-906-7585 today.
Refresher on the Pandemic Stimulus Check
Back in March 2020, Congress passed the Coronavirus Aid, Relief, and Economic Security Act, known as the CARES Act, which was a $2.2 trillion economic stimulus bill to help with the economic fallout due to the coronavirus pandemic that is still raging through the country. The Act provides for a stimulus payment, which the IRS is calling an “economic impact payment,” of $1,200 to every American who makes less than $75,000, based on 2018 and 2019 tax returns. Married couples making less than $150,000 will receive $2,400.
For those individuals who make between $75,000 and $99,000 (or married couples making between $150,000 and $198,000) they will receive a reduced amount of stimulus money, going down on a sliding scale. Those taxpayers who make more than $99,000 (or $198,000 for married couples) are not eligible for a stimulus check.
In addition, parents in the above income brackets are eligible to receive an additional $500 for each child who is under 17 years old. The IRS, over the last number of months, has relied on taxpayers’ tax returns to provide the stimulus money, either through direct deposit (if the IRS already had your information) or through paper checks.
Thus, if you have yet to receive a stimulus payment, you should first check to see if you are eligible based upon those income thresholds.
What is the IRS Currently Doing for Those Who Have Not Received a Check Yet?
The IRS reported that beginning on September 24, it will start mailing letters to people who may qualify for a stimulus check but have yet to receive one. The letter will tell taxpayers that they could be eligible for a payment if they meet particular requirements, including that they are a citizen or have a green card, and have a valid Social Security number. Reports indicate that the IRS will be sending about 9 million of these letters.
The areas that have the most residents who may be eligible for, but have yet to receive a stimulus check, include California, Texas, and Florida. In addition, about 5% of all Washington DC residents and 4% of all Alaska residents should receive a letter.
The stimulus payment is available to those who are eligible until the end of this year. So, there is a bit of a time crunch. The IRS is hoping that, by releasing state-by-state information, state and local leaders will be able to assist those who should get the extra $1,200 but have not claimed it yet.
The people most likely to receive the IRS letter are those who did not file a tax return for the 2018 or 2019 tax years. It is important to remember, however, the letter is not a guarantee of payment, but rather that you may be eligible to receive a check.
Is There a Chance of Any Additional Stimulus Money?
Most likely not. Unfortunately, Congress cannot agree on providing another round of stimulus checks, despite the fact that unemployment is still high in the U.S., and low- and middle-income families are still struggling. The House of Representatives passed a bill about two months ago that would have provided much-needed relief to Americans, but the bill has not moved in the Senate.
Let an Experienced IRS Tax Defense Attorney In Sarasota, Help You With Getting Any Stimulus Money Owed to You
We are all struggling through this pandemic that does not seem to have any end in sight. Thus, an additional $1,200, plus money for all dependant children, would be welcomed during this critical time.
Consider reaching out to an experienced IRS tax defense attorney in Sarasota to help you get the money owed to you. Tax matters can be complicated, and thus, it is always helpful to have someone in your corner who understands the tax law and deals with the IRS on a regular basis. Indeed, beyond just the stimulus payment from the IRS, there could be other issues with which a seasoned tax attorney can help.
So, when it comes to dealing with tax relief and tax litigation, you need to talk to an IRS tax defense attorney in Sarasota who can help. Mary E. King has spent her career concentrating in tax law and can help you with tax scams in Florida and elsewhere. Attorney King has a wealth of information about what types of options would make the most sense for you and your business.
That helps explain why she’s received an A+ rating from the Florida Better Business Bureau. If you have a tax-related issue – no matter how small or how large – setting up an initial consultation with Mary E. King, tax lawyer of Florida, is the first step you should take towards relief.
The Law Office of Mary King P.L. offers complete IRS problem-solving services including all areas from tax debt settlement to planning the most efficient tax strategy for individuals and businesses. Call us today to schedule an initial consultation. With years of experience as a tax lawyer in Sarasota for many clients, Attorney Mary E. King can make sure that your tax issues are resolved in your favor. Fill out our online contact form, or call us at 941-906-7585. Remember, at the Law Office of Mary E. King, we are focused on solving your tax issues for good.