Never file a tax return? Take note: IRS has a new tool to get your stimulus money

The Internal Revenue Service on Friday announced the launch of the first of two new online tools that will be essential to get stimulus money in the hands of many Americans, including low-income households. 

Make no mistake, most people do not need to use any tool at all. The so-called "Economic Impact Payments" will just pop into 50 million to 60 million bank accounts in next few days.

You'd get that money automatically into your account if you've already given the IRS direct deposit information for tax refunds when you filed a 2018 or 2019 federal income tax return. 

And you'd get that money automatically if you receive Social Security retirement or Social Security Disability Insurance benefits or receive Railroad Retirement benefits.

But people who typically don't need to file a tax return, the so-called non-filers, must now be alerted that some action is needed to get their money. 

After much back and forth and conflicting commentary, the IRS on Friday said millions of people who don't normally need to file a tax return now must take concrete steps to get their stimulus cash.

The IRS said this group of low-income households and other non-filers needs to use a new web tool at irs.gov/coronavirus/non-filers-enter-payment-info-here to allow for "quick registration for the Economic Impact Payments.

Think of someone who makes very little money and is normally not required to file an income tax return. 

The group of non-filers includes: People who didn't file tax returns because they make under the normal income limits for filing a tax return. That includes single filers who made less than $12,200 and married couples who made less than $24,400 in 2019.

Remember, though, students and others who are claimed as dependents on someone's tax return, such as the parents' return, are not eligible for the stimulus money and cannot use this "Non-Filer" tool. 

The process, reportedly, is simple and should only take a few minutes to complete.

Non-filers are going to need to provide: Your full name, current mailing address and an email address. Date of birth and valid Social Security number. Bank account number, type and routing number, if you have one.

If you have one, you'd need to give an Identity Protection Personal Identification Number (IP PIN) you received from the IRS earlier this year. Driver’s license or state-issued ID, if you have one.

And for each qualifying child (under age 17): You need name, Social Security number or Adoption Taxpayer Identification Number and their relationship to you or your spouse.

You're going to fill out forms online at this site alone. Do not fall for any scammers who might send you some email or direct you to some oddball website or claim that you have to pay money up front to get this cash.

The IRS is going to use the information you provide to confirm eligibility and calculate the amount of your stimulus payment under the ''Coronavirus Aid, Relief and Economic Security Act.'' 

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What's key about taxes: "Using the tool to get your payment will not result in any taxes being owed," the IRS said.

Non-filers could avoid waiting around for a check if they also supply bank account or financial account information so that you can get the cash via direct deposit.

The tool is secure, the IRS said, and based on a system already in place as part of the "Free File Alliance."

Something important for vets and others to know: Those receiving veterans benefits and Supplemental Security Income are currently not going to receive their stimulus cash automatically. The IRS said it continues to explore ways to make automatic payments to SSI recipients and those who receive veterans disability compensation, pension or survivor benefits from the Department of Veterans Affairs and who did not file a tax return for the 2018 or 2019 tax years.

The vets and those receiving SSI could use the "Non-Filers: Enter Payment Info" option now — or, as the IRS said, "wait as the IRS continues to review automatic payment options to simplify delivery for these groups." 

Yes, it seems like a not-so-subtle way to encourage vets and those receiving SSI to fill out these forms online to get stimulus cash sooner rather than who-knows-when later.

Coming next week: The IRS said it will release information on a second new tool next week involving a way to sign up for direct deposit, if you need to do that.

The "Get My Payment" is to be available by April 17. It would allow eligible people to give the IRS their direct deposit information for their bank accounts, if needed, so they don't need to guard their mailboxes waiting for checks in the months ahead. 

Expect to hear more ahead on "Get My Payment." 

ContactSusan Tompor at313-222-8876 or stompor@freepress.com. Follow her on Twitter@tompor. Read more on business and sign up for our business newsletter.