Recent Tax Updates

IRS Launches “Get My Payment” Online Tool

The new “Get My Payment” online tool that will allow individuals to track their economic impact (stimulus) payment and enter their bank account information for direct deposit is now available on the IRS website.

This new tool does the following:

  • Allows taxpayers to check the status of their economic impact (stimulus) payment as well as:
    • When they can expect it
    • Whether it will be direct deposited into their bank account
    • If it will be sent as a paper check
  • If the online tool indicates that the stimulus payment will be sent as a paper check (and the IRS has not yet sent it) the taxpayer will have the option to enter their direct deposit information in order to receive it electronically.

This tool will not allow a taxpayer to change/update their direct deposit information if they included that information on their 2019 or 2018 federal return.

An individual will need the following information in order track the status of their payment:

  • Their Social Security Number
  • Date of Birth
  • Mailing address used on their most recently filed tax return (2019 or 2018)

For those individuals that wish to add their bank account information they will need the following information:

  • Their Adjusted Gross Income from their 2019 or (2018 if they have not filed their 2019 return yet) federal return
  • The refund or amount owed from their latest filed tax return
  • Account and routing numbers for their bank account

For more information on the “Get My Payment” tool see IRS News Release IR-2020-72.

For more information on the stimulus payment see the Economic Impact Payment Information Center on the IRS website.

Picture of Mark Castro, CPA

Mark Castro, CPA

Mark has been with CrossLink Professional Tax Solutions (CPTS) since 2008, but has been in the tax industry since 1990. As the government/tax industry liaison for CPTS, Mark has been very active in working with the IRS, States, and other tax industry members to help improve communications, promote standardization, and simplification of eFile systems. Mark has also been active with industry associations as a board member of the National Association of Computerized Processors (NACTP) and the Council of Electronic Revenue Communication Advancement (CERCA) for many years. These two associations work with the IRS and States to help solve key eFile and electronic tax system issues and work to improve the operations of the State and IRS eFile systems.
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Recent Tax Updates

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