2020 Coronavirus Stimulus Check – Economic Impact Payment Details

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More details are released each week about the Economic Impact Payments, commonly called Coronavirus stimulus checks. We recently learned that people who typically do not have to file tax returns, are required to do that in order to qualify for the stimulus check.

TurboTax estimates there are about 10 million Americans who aren’t required to file taxes. Unfortunately, the IRS will review its records for 2018 and 2019 taxes to make the determination on who gets the stimulus money and in what amount.

If you didn’t file taxes in those years, TurboTax is partnering with the IRS to help you file simple tax return and claim your stimulus, if you qualify. There is no cost to filing the return other than your time. Simple tax returns are typically uncomplicated and free to file.

Below is a screenshot from TurboTax that asks you 4 questions to determine what your stimulus check will be. If you haven’t filed 2019 taxes, it asks the same questions about the 2018. If you haven’t filed in any of those two years, scroll down to start this process, if you choose to do so.

The IRS is expected to issue millions of stimulus payments either by direct deposit (most of them) or check. Mailing the checks will be done in order of taxpayer income. It ensures that those of us who need it most, will be the first to get it.