By Mark Castro, CPA
April 8, 2020
With the exception of taxpayers who received Social Security Benefits, taxpayers who did not have a requirement to file a federal return in 2019 and 2018 will need to file a “simple” federal return in order to receive an Economic Impact (stimulus) Payment.
To file these returns these taxpayers will need the following information:
Other things to note:
Filing these returns electronically and including direct deposit information will allow the IRS to process the information and send the economic impact payment to the taxpayer in the least amount of time. If the direct deposit information is not included the taxpayer will receive their payment as paper check.
Remember the following individuals are not eligible for an economic impact payment:
How to Complete a “Simple” Return in Crosslink
Here is how to complete a “Simple” return in the Crosslink program:
If the Interview mode is being used to complete the return, you can select the “simple” return option by pressing the button near the top-right of the screen. Once you press the button the Client Data Screen will appear and the “Simple” return checkbox will be checked.
Other Things to Note when the “Simple” Return Option is selected:
If a State return needs to be filed, you must file a complete federal and include all income and deduction information.