Guthrie releases FAQ information on economic impact payments

Published 1:20 pm Tuesday, May 5, 2020

 BRETT GUTHRIE

News release

BOWLING GREEN – Congressman Brett Guthrie (KY-02) released the below information on Economic Impact Payments for individuals and families during the coronavirus outbreak.

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Guthrie voted for the CARES Act, which created the Economic Impact Payment program to help those who have been adversely affected by the ongoing coronavirus outbreak. Eligible recipients will receive payments from the Internal Revenue Service (IRS).

“With many parts of our economy effectively shut down, Kentucky families are suffering,” said Guthrie. “When we passed the CARES Act, we wanted to make sure that individuals and families would see direct relief. The Economic Impact Payment is a tax rebate for Kentuckians during this difficult time. As the IRS begins to disburse the Economic Impact Payments, I want to ensure that Kentuckians have the information they need.”

See below for the full list of frequently asked questions and answers from Congressman Guthrie. 

ECONOMIC IMPACT PAYMENT FAQs

  • Do I need to do anything to receive my Economic Impact Payment?

If you filed your 2018 or 2019 taxes, you do not need to take additional action to receive your Economic Impact Payment. You will automatically receive your Economic Impact Payment via direct deposit or a check mailed to your address on file. If you need to update your information from the last time you filed your taxes, you can do so here.

  • What if I don’t file taxes?

If you do not file taxes because your income is less than $12,200, or you are not required to file taxes for other reasons, you can enter your payment information here. You will receive your Economic Impact Payment automatically if you do not file taxes because you receive one of the following benefits:

-Social Security retirement, disability (SSDI), survivor benefits, Supplemental Security -Income (SSI)

-Recipients of Veterans Affairs benefits

-Railroad Retirement and Survivor Benefits

However, if you receive these benefits but have qualifying children under age 17, you can claim the $500 payment per child here.

  • Who is eligible to receive Economic Impact Payments? 

Economic Impact Payments of $1,200 per individual and $500 per child will be sent to those with incomes at or below $75,000 for individuals, $112,500 for head of household, and $150,000 for married couples. Payments are phased out above those thresholds until it is phased out completely for single taxpayers with incomes at $99,000 or $198,000 for joint filers.

  • When will I receive my payment? Economic Impact Payments are being disbursed on a rolling basis. You may have already received your payment.
  • I received a call from someone asking for my information so I can receive my Economic Impact Payment. What should I do?

DO NOT GIVE OUT YOUR PERSONAL INFORMATION TO ANYONE CALLING AND ASKING FOR IT. You WILL NOT receive a call related to Economic Impact Payments. The ONLY place you should submit your personal information is on the IRS website.

  • I am a veteran. How will I receive my payment?  

Recipients of VA benefits will automatically receive Economic Impact Payments in the same way your benefits are normally delivered. Veterans and their beneficiaries who receive Compensation and Pension (C&P) benefit payments from VA will receive a $1,200 Economic Impact Payment with no further action needed on their part. However, if you have qualifying children under age 17, you will need to take additional action. You can claim the $500 payment per child here.

  • I’m on Social Security. How will I receive my payment?

Social Security beneficiaries will automatically receive Economic Impact Payments in the same way your benefits are normally delivered. This includes those who receive payments to a Direct Express Card. However, if you have qualifying children under age 17, you will need to take additional action. You can claim the $500 payment per child here. You must do so by Wednesday, April 22.

  • I receive Supplemental Security Income (SSI) benefits. How will I receive my payment?

SSI beneficiaries will automatically receive Economic Impact Payments in the same way your benefits are normally delivered. This includes those who receive payments to a Direct Express Card. However, if you have qualifying children under age 17, you will need to take additional action. You can claim the $500 payment per child here.

Still have questions? Check out the IRS FAQ’s at https://www.irs.gov/coronavirus/economic-impact-payment-information-center. If you need additional help, please call my Bowling Green District Office at 1-270-842-9896.