Stay in Touch
Get sneak previews of special offers & upcoming events delivered to your inbox.
Sign in
04-01-2020 11:51 AM
will they need to fill out a 1040 form in order to receive the 2020 stimulus check? If so, can that be done online? How would you actually submit the form if you fill it out online? Thank you.
04-01-2020 11:57 AM
You can go to the IRS dot Gov website and fill out one of their FREE filing options and then submit it on line. Free.
04-01-2020 12:05 PM
Looks like they are working on how you can file.
https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know
Hope this helps.
Mint
04-01-2020 12:12 PM
My understanding is this. I am assumming that your cheques are direct deposit. The govt has the information and money will be deposited into our account.
04-01-2020 12:15 PM
They seem to be making it up as they go along. I don't trust them not to claw this back in 2021. I won't be filing.
04-01-2020 12:17 PM - edited 04-01-2020 12:19 PM
@noodleann I read somewhere in the NY Times that this is a "loan" and not a gift and the amount will have to be reported on next year's income tax. Have seen no confirmation of this anywhere.
You don't have to "file" anything. The payment will be automatic.
04-01-2020 12:21 PM
@kaydee50 wrote:@noodleann I read somewhere in the NY Times that this is a "loan" and not a gift and the amount will have to be reported on next year's income tax. Have seen no confirmation of this anywhere.
I heard the exact opposite. That the amount is non-taxable. And that, if you weren't eligible last year, but become eligible this year, it may be a credit on your next years tax return. This was from the finance reporter on my morning news, responding to viewers' questions.
04-01-2020 12:27 PM
@kaydee50 wrote:@noodleann I read somewhere in the NY Times that this is a "loan" and not a gift and the amount will have to be reported on next year's income tax. Have seen no confirmation of this anywhere.
You don't have to "file" anything. The payment will be automatic.
No, I'd have to file, according to what's in the link to the IRS website, meaning I won't get it if I don't submit something. So will anyone else on SS or SSDI who didn't file taxes for 2018 or 2019, from what I read. Not doing that so no problem for me, now or down the road, at least with respect to that.
04-01-2020 12:30 PM - edited 04-01-2020 12:31 PM
@kaydee50 wrote:@noodleann I read somewhere in the NY Times that this is a "loan" and not a gift and the amount will have to be reported on next year's income tax. Have seen no confirmation of this anywhere.
You don't have to "file" anything. The payment will be automatic.
@kaydee50, one of our U.S. senators said that the checks are exempt from both federal and state income taxes. Governor has verified no there will be no state income tax on the funds.
04-01-2020 12:30 PM
@newjersey wrote:will they need to fill out a 1040 form in order to receive the 2020 stimulus check? If so, can that be done online? How would you actually submit the form if you fill it out online? Thank you.
According to https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know , the form is not yet availble. Check the IRS site for updates so you can get correct information directly from the source.
Get sneak previews of special offers & upcoming events delivered to your inbox.
*You're signing up to receive QVC promotional email.
Find recent orders, do a return or exchange, create a Wish List & more.
Privacy StatementGeneral Terms of Use
QVC is not responsible for the availability, content, security, policies, or practices of the above referenced third-party linked sites nor liable for statements, claims, opinions, or representations contained therein. QVC's Privacy Statement does not apply to these third-party web sites.
© 1995-2026 QVC, Inc. All rights reserved. | QVC, Q and the Q logo are registered service marks of ER Marks, Inc. 888-345-5788