People who filed a tax return for 2019 or 2018
No additional action is needed by taxpayers who:
- have already filed their tax returns this year for 2019. The IRS will use this information to calculate the payment amount.
- haven’t filed yet for 2019 but filed a 2018 federal tax return. For these taxpayers the IRS will use their information from 2018 tax filings to make the Economic Impact Payment calculations.
I think this means if you earned more in 2019 than in 2018, maybe hold off filing for 2019 (since the deadline got extended anyway)! If you earned less in 2019 than in 2018, file immediately!
ETA: This only impacts individuals who are above these thresholds:
- $75,000 for single filers,
- $112,500 for head of household filers and
- $150,000 for married filing jointly