RAYOS-788 Test Article 22
JOPLIN, MO. —
Since President Trump signed the $2 trillion stimulus package intended to boost the economy, a lot of Four-Staters have questions about the stimulus funds. Tax professional Jim Erickson, from Erickson Tax Service in Joplin, answers the frequently asked questions.
What about a retired person/couple not making enough to file taxes, do they need file now?
Retired couples and people that don’t file tax returns because they don’t need to, do to the regulations, the IRS is setting up a site that you can go on and do a simple tax return and get your information there. If you are over 65 years old, you would file a 1040-SR.
What if you are on social security of disability?
They get the same 12-hundred dollars per individual. And they need to get that information, their bank account information to the IRS if they want direct deposit or it will be mailed to them. They’ll get information from social security. But if you’re on disability, SSI or social security you will get the 12-hundred dollar check.
What if they are disabled with children, do they get any funds? If so what form or steps do they need to take to get the money?
Just like everybody else, they need to file tax return for 2018 or 2019. They $500 for each dependent under 17.
What if you are homeless? How would get the funds?
Either through the internet or the IRS, give them your information. As long as you have a social security you will be able to get the check.
What does it cost to files forms if i normally don’t file taxes?
There are free services out there that you can get online and do them free, but sometimes it costs to do the state. Fees could also vary with tax preparers.
What if I never file taxes do I get funds?
The IRS is in the process of setting up a website to help (http://IRS.gov/coronavirus). When the site is up and running you will enter your information there. As long as you are not a dependent of anyone else you will receive the stimulus funds.
If you claim a child over the age of 17 or an adult as dependent on your tax return, the dependent does not get a stimulus check.
If you claim your child that is over 17 or have an adult that you claim, the dependent will not get the stimulus. But the person that files that tax return, that’s usually a parent, they’ll get their 12-hundred dollars for each parent, that’s 24-hundred dollars and then 500 dollars for the dependent. But the depended over 17 won’t get it. And dependents, of course if they’re going to college, if they file their own tax return and they’re not a dependent of somebody else then they will get it.
What would I need to bring to a tax service?
Your social security car, a valid picture ID, and any tax papers you might have.
What tax form do I need to fill out?
A 1040 federal.
Do I need to file taxes to receive the stimulus money?
The IRS has different ways to get information about you. They may have past information, but they are going on the last 2 years. So you need to file a tax return for 2018, 2019.
Erickson Tax service is open for business in Joplin. They take walk-ins and also provide curbside service.
