May 12, 2020

2020 – 05/11

May 13 is the deadline to provide the IRS with information to get an Economic Impact Payment (EIP) via direct deposit. The IRS has stated that taxpayers who qualify for, but haven’t received their EIP, should provide the direct deposit bank information on the IRS’s “Get My Payment” website by noon on May 13. The tax agency said this step will help avoid the delay involved in receiving a paper check; deliveries will extend into September. The federal government is making payments of up to $1,200 to individuals under a certain income threshold. Married couples filing jointly, who fall under an income threshold, can receive up to $2,400. There are additional $500 payments per qualifying child.