The Department of Treasury has announced that millions of Americans who are eligible for coronavirus stimulus payments have already started seeing money deposited into their bank accounts.
While the coronavirus stimulus payments were based on 2019 or 2018 tax filings, there are many Americans who are afraid they will be left out because traditionally, they do not file taxes.
Working together, the Treasury Department and the Internal Revenue Service (IRS) have created a tool that caters to this special group of people and allows them to still receive checks.
“The tool provides a free option for people, including those with little income, to file their taxes to receive stimulus payments,” according to Yahoo! News.
“This tool works for all non-filers,” Richard Winchester, law professor at Seton Hall University School of Law, told Yahoo Finance. “That would include people receiving Social Security, retirement or disability benefits.”
For those that have not yet received their stimulus payments, the IRS has also developed a tool to track them called “Get My Payment.”
While the funds have already hit the bank accounts of millions of Americans, some question if the money will have to be paid back on their 2020 taxes.
“The answer is probably going to be no,” Winchester said. “It is very clear that this is not going to be subject to federal income tax, but on the state-tax side, every state is different— but legislators are already tuned into this and they don’t want it to happen.”