Question

Stimulus: One-Time Payment Or Multiple?

Forum|Forum|5 years ago
June 5, 2020
1 reply
0 views

Hi,

I'm behind on my taxes so I haven't received anything yet, nor do I know yet if I'll even qualify, but nonetheless...

1) Are people only receiving one (up-to) $1200 check/deposit for the duration of the entire shelter-in-place period of time?

- Or are there more than one payment, depending on how long someone's been out of work or financially impacted?

2) Let's say my taxes were filed today, have I then forfeited any potential stimulus payments from March 2020 til now? Ie, have I 'missed out' due to the supply running out after so much time has passed without claiming any of it?

- Or is it based on when the time-frame began that I stopped working, and the accumulated funds will be available indefinitely regardless of when I file my taxes?

Thanks very much for any clarification!

Alex

Not A Product Question

A

AnnetteB6

There is only a single stimulus payment available. There are not multiple stimulus payments being issued.

To learn more about the stimulus payments based on your tax returns, use the following links:

IRS -- Economic Impact Payments

TurboTax Corona Virus Tax Center

@A-Two-O

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A-Two-OAuthor

Hi @AnnetteB6

I see, thanks.

And the 2nd part?

"Let's say my taxes were filed at this late stage, have I forfeited a potential stimulus payment...Ie, have I 'missed out' due to the supply running out without claiming any of it? Or will it remain available/accessible til it's personally claimed, regardless?"

SusanY1

There is not a limited supply of the economic impact payments ("stimulus checks").

If you are qualified, you will receive your payment.

If your information is delayed reaching the IRS and a payment is not sent to you by year end, you will simply apply for a credit on your 2020 tax return when you file in 2021.

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