Updated: March 28, 2020
?My office is open during the ?statewide ?shutdown? period? due to the fact that ?my? office is considered ??an essential business? to the community? because of the payroll and accounting services I offer in addition to tax preparation and filing.
APPLY FOR UNEMPMPLOYMENT BENEFITS
COVID-19 REBATE CHECKS
HOW THE AMOUNTS ARE DETERMINED
When do I receive the money?
We don't know how long it would take the IRS to send out all the money, but it would likely take weeks before the first payments start going out.
Treasury Secretary Steven Mnuchin said on Wednesday that the IRS would begin issuing payments within three weeks of the legislation being signed into law. The bill simply calls for payments to be made "as rapidly as possible."
But experts say it could take longer. In 2001, it took six weeks for the IRS to start sending out rebate checks under a new tax cut, and in 2008, it took three months after a stimulus package was signed into law.
How do I get my money?
The money would likely be deposited directly into individuals' bank accounts -- as long as they've already authorized the IRS to send their tax refund that way over the past two years.
If not, the IRS would send out checks in the mail.
For those that haven't filed a 2019 or 2018 tax return, the IRS would rely on information on file at the Social Security Administration, which keeps records on all Americans who have paid payroll taxes.
It's still possible that some people may fall through the cracks. On its website, the IRS says no sign-up would be needed to receive the money, but it's possible the agency ends up offering further guidance.
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