Pandemic Unemployment Assistance is Taxable Income

You may know that unemployment money you receive from your state is taxable. The Federal payments known as PUA, or Pandemic Unemployment Assistance are also taxable.  You may want to review your income for 2020 before the end of the year and make an estimated tax payment if you did not have taxes withheld on your unemployment. 

Estimated Tax Payments for the third quarter of 2020 are due on 9/15/2020.  

IRS Tool for entering Tax information for Stimulus Payments

People who do not file a tax return, and do not receive government benefits may use the Non Filers Enter Payment Information Here tool on IRS.GOV.

This tool will be taken offline on 10/15/2020.  If you did not have a requirement to file a tax return in 2018 or 2019 and you have not received a stimulus payment, use the tool before 10/15/2020.

 

TREASURY ISSUES STIMULUS PAYMENTS ON PREPAID DEBIT CARDS

 

The Department of the Treasury is issuing thousands of stimulus payments via prepaid debit card through Meta Bank.  The cards have the Visa logo on them. 

Read more at this link.

STIMULUS PAYMENTS FOR THOSE ON SSI and VA BENEFITS

IF YOU RECEIVE CERTAIN GOVERNMENT BENEFITS YOUR STIMULUS PAYMENT WILL GO ON YOUR DIRECT EXPRESS CARD!

Please click this link  to read more in the article on IRS.GOV.

 

CHECK GET MY PAYMENT AGAIN IF YOU HAVEN'T RECEIVED YOUR STIMULUS

The IRS Get My Payment tool has been updated!!! Many people who were receiving the "Your eligibility cannot be determined at this time " message are now receiving a message that they qualify for a stimulus payment.  The last 4 digits of the bank account number the IRS plans to use for direct deposit are displayed.  If the IRS does not have a bank account on file you are prompted to enter your direct deposit information!!

Go to GET MY PAYMENT

SSA Info for Taxpayers about Covid 19 Payouts

Please read the guidelines published by the Social Security Administration here.

 

It is important for people who do not receive Social Security and who did not file a tax return in 2018 or 2019 due to low income, to file an Economic Impact Payment, or "Simple" return.  The Social Security article above explains this.

 

IRS Information About the Stimulus

This is the link to the Economic Impact Payment information on irs.gov.