Payments and Deadlines

Hopefully by the time you read this, people will have begun to receive deposits into their bank account as part of the stimulus package the federal government has passed due to the coronavirus. It is going to be a welcome arrival for many who are very much in need of those funds to help get them try to get through to the end of this crisis.

The IRS is also making some good moves to help these payments get to the most people in the quickest way possible. The agency has set up a webpage where you can check the state of your payment (though as most things these days, it does say it could take a waiting period to access with heavy traffic). This will also allow you to update direct deposit information if the IRS did not have it or update an address if you are going to be expecting to receive your money by paper check.

In addition, that webpage also includes a place for people who did not file taxes in 2018 or 2019, yet are still eligible for the economic impact payment, to enter information that will help them get their payments.

Another bit of relief granted by the agency was the extension of the tax filing deadline until July 15. That was clear cut for many, but still led to some murkiness, such as some people being in a spot where it looked like they might have to pay their estimated taxes for the second quarter of this year before they had to pay those for the first quarter.

I don’t want to spend too much time here going deep into what are the deadlines and for what situations, but if your situation is not clear enough that ‘July 15’ answers all the questions, the IRS has a good question-and-answer page set up here.

I would like to spend more time, however, with a final note of good wishes. So much has changed so fast for so many. We certainly felt that around here over the last couple of weeks with various clients trying to figure out what they needed to apply for, and how to apply for, much of the stimulus relief that the government passed. But even in that madness is hope that help is being offered and will be received.

Hopefully some of that calm is starting to bleed through in your personal life, as well. Sure, those who celebrate Easter may not have done so in their traditional manner this past weekend, but I hope there was still some a of strength and peace that could be reached within it.

There has been a lot of talk of getting to out ‘new normal,’ which is not a term I’m particularly fond of, for I hope this is an aberration instead of any dose of normality. But we should be proud and hold on to the moments we find where we are able to still be (or at least be close to) our true selves. So this is a wish that those moments are starting to come more frequently and starting to feel easier to capture. 

Warmly,

Josh Bousquet
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