I have some friends and family who are not required to file tax returns and have let them know about this, and thought I would do the same for my MFP family. (You can still file a return even if you are not required
to do so.)
https://www.nytimes.com/article/coronavirus-stimulus-package-questions-answers.html...What if I haven’t filed tax returns recently, would that affect my ability to receive a payment?
- This is pending legislation, not yet law. It has passed the Senate and is expected to pass the House March 27, and then be signed into law.
- Reminder to not get political else this thread will be shut down.
- I am not a tax professional.
It could. File a return immediately, at least for 2018, according to the I.R.S. website. “Those without 2018 tax filings on record could potentially affect mailings of stimulus checks,” the site says.
If you’re worried about money that you owe that you cannot pay, the I.R.S. recommends consulting a tax professional who can help you request an alternative payment plan or some other resolution.https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continueNon-filers: Haven't filed a tax return for a previous year? Take steps now.
The IRS encourages anyone with a tax filing obligation who hasn't filed a tax return for 2018 or a previous year to act now. – Pending legislation includes certain potential credits and rebates for those who have filed a return for 2018 and/or 2019. Those without 2018 tax filings on record could potentially affect mailings of stimulus checks. And more than 1 million people who haven't filed tax returns for Tax Year 2016 and are owed a refund still face an April 15, 2020, deadline to file their return. This deadline hasn't been extended. Current law requires the 2016 return to be filed by April 15, 2020.
Many non-filers should consider contacting a tax professional to consider various available options since the time to receive such refunds is limited by statute. Once delinquent returns have been filed, most taxpayers have the opportunity to resolve any outstanding liabilities by entering into an Installment Agreement or an Offer in Compromise with the IRS to obtain a "Fresh Start." See IRS.gov for further information.