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stimulus payment update (april 16th)
As you may have heard, the first wave of stimulus checks have been processed. If the IRS does not have your bank account information from refunds processed on prior year tax returns, you will be receiving a paper check.
The Treasury Department and the Internal Revenue Service (IRS) have released a new web tool that will allow taxpayers to update their direct deposit information to receive their stimulus checks (Economic Impact Payments) more quickly. This tool is available to those taxpayers who have filed 2018 and/or 2019 tax returns.
Entering bank or financial account information will allow the IRS to deposit your payment directly into your account. Otherwise, your payment will be mailed to you as a paper check (that will slow the receipt of your check).
Non-Filers: “Enter Your Payment Info” is also an option. If you do not file taxes because of gross income amount under $12,200 or no income, you can provide your bank account information using same link below.
Please look for our next update by the end of the week, which will provide links to additional resources for small business relief options, Employee Retention Credit information, available grants and hopefully good news about the Pandemic Unemployment Assistance program for self-employed people.
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