As you all know there are several new government stimulus payments, loan programs and 2019 tax filing and payment deadline changes. New information is coming out every day, and we are doing our best to keep up. We are checking government websites and researching with basic internet searches to find information. When we are confident that the information is accurate, we will share it.
The following are answers to some of the most frequently asked questions that we have been getting;
Where is my Federal tax refund? You can check the status of your refund HERE at the IRS Where’s My Refund web page. You will need to provide your Social Security number, your filing status, and your exact refund amount. There is also a link to an app, IRS2Go on this page.
Where’s my Michigan tax refund? You can check your MI refund HERE. You will need to provide your Social Security number, the tax year, filing status, and Adjusted Gross Income or Total Household Resources. Adjusted Gross Income is found on line 10 of your MI-1040. Total Household Resources are found on line 33 of your MI-1040CR or line 37 of your MI-1040CR-7.
Will I get a stimulus check? irs.gov is the best source for information on the stimulus checks (officially referred to as economic impact payments). Click HERE to see their current information regarding these payments. Click HERE to see Frequently Asked Question information about economic impact payments from our web page.
Does the IRS already have my bank information? The economic impact payments will be deposited into the bank that is on your most recently filed tax return, either 2018 or 2019. If your refund has been direct deposited in the past, the IRS already has your bank information. On the Federal 1040 form, your banking information would be on page 2, Line 21 b and d.
If the IRS doesn’t have your bank information, they will be creating a website within the coming weeks for people to provide that information. Check the link in the paragraph above for further information.
Do Social Security Recipients get a payment? The IRS will use the information on the Form SSA-1099 or Form RRB-1099 to generate Economic Impact Payments to recipients of benefits reflected in the Form SSA-1099 or Form RRB-1099 who are not required to file a tax return and did not file a return for 2018 or 2019. This includes senior citizens, Social Security recipients and railroad retirees who are not otherwise required to file a tax return.
Will I be Contacted by the IRS? Be very, very careful if you are contacted by anyone regarding stimulus payments. You will never be called or emailed by the IRS. You should never give out personal information to someone on the phone or via email.
The IRS reminds taxpayers that scammers may:
- Emphasize the words “Stimulus Check” or “Stimulus Payment.” The official term is economic impact payment.
- Ask the taxpayer to sign over their economic impact payment check to them.
- Ask by phone, email, text or social media for verification of personal and/or banking information saying that the information is needed to receive or speed up their economic impact payment.
- Suggest that they can get a tax refund or economic impact payment faster by working on the taxpayer’s behalf. This scam could be conducted by social media or even in person.
- Mail the taxpayer a bogus check, perhaps in an odd amount, then tell the taxpayer to call a number or verify information online in order to cash it.
How do I Apply for Unemployment? Click HERE to apply for unemployment in Michigan. Scroll to the bottom of the page to see information about long wait times and slow web page issues that they are experiencing. There are an unprecedented number of people trying to apply, so you will have to try to be patient with the process.
Unfortunately, we just can’t answer all of the questions that we are being asked as the guidance has yet to be issued. Jellison CPA continues to navigate through this stressful time and is putting forth every effort to communicate accurate and timely information to our clients. We hope you find the above information helpful.
Stay safe and healthy!