Economic Impact Payments: What You Need To Know

There has been so much focus on the SBA loans this past week that some may have missed the information provided so far on the Economic Impact Payments.

 

The IRS expects to create a portal later this month or in early May to let people update their direct deposit information and check on the status of their payment. This will allow taxpayers to receive payments immediately as opposed to checks in the mail.

 

This Stimulus Rebate Fact Sheet from Wolters Kluwer gives more detail on who is eligible and why tax preparers are a critical part of the bill.

 

There have been numerous updates to recent stimulus legislation – it is important to stay up to date. BE AWARE and BEWARE of potential fraud and scam tactics to get you to provide your banking information to the those with ill intent.

 

IRS Economic Impact Payment Graphic
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